Swiss government: small is best

26 Jan 2006

According to Swiss daily newspaper NZZ Online, the Swiss cabinet wants to sell its 62% stake in Swisscom to ‘the widest possible circle of takers’. In a statement, the Finance Ministry is quoted as saying that it intends to offer the shares at a ‘special price’ to small investors, in a bid to prevent the company from falling into foreign hands. On Wednesday the government opened a six week consultation into the sell-off. Once this has closed (in mid-March) the cabinet is expected to submit a formal draft law to parliament for debate, likely to take place in June. Swiss voters could still have the final say on the issue next year, however, if as expected Swisscom trade unions push for a national referendum on the issue.

Switzerland, Swisscom