Commission gives the OK to Swisscom-Belgacom tie-up

25 May 2005

The European Commission has approved the international carrier services joint venture between Belgacom and Swisscom, ruling that it will not significantly impede effective competition in Europe. The proposed joint venture, BICS, is still currently a wholly owned division of Belgacom, but under the telcos’ plan Swisscom will merge its wholesale international carrier business with Belgacom’s, shedding some 100 jobs in the process, and obtaining a 28% stake in the enlarged company in return. BICS’ headquarters will be in Brussels; a satellite office will operate in Switzerland.

Belgium, Switzerland, Proximus, Swisscom