Swisscom success with FastWeb offer

16 May 2007

Swisscom has announced that it has acquired 80.7% of the shares of Italian broadband operator FastWeb for EUR3.1 billion. The total transaction value rises to EUR4.2 billion taking into account the assumption of FastWeb’s net debt. Together with its previously acquired 1.5% stake, Swisscom now owns 82.4% of FastWeb shares. FastWeb is one of Italy’s largest alternative broadband internet operators, with more than a million ADSL and fibre-to-the-home subscribers.

Italy, Fastweb, Swisscom