Swisscom to increase FastWeb stake?

12 Feb 2008

Share prices of the Italian internet service provider FastWeb have risen by 8% following press speculation that its majority owner Swisscom is preparing to buy out the remainder of the company prior to a delisting. Italian newspaper La Repubblica says the Swiss telco is aiming to acquire around 18% of FastWeb that it does not already own, with the deal to be completed by the end of June. However, a Swisscom spokesperson told Reuters: ‘This is just speculation. No decision has been made about a delisting. We are evaluating all options.’

Separately, FastWeb has signed an agreement with Italian TV broadcaster LA7 to offer the channel’s content to subscribers of the FastWeb IPTV service. To access the content the operator’s customers must buy a LA7 Cartapiu Smart Card and pay a one-off activation charge of EUR29 (USD42). LA7 holds the rights to broadcast football matches featuring a number of Serie A teams, including Fiorentina, Palermo, Reggina, Sampdoria, Cagliari and Catania.

Italy, Fastweb, Swisscom