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Broadband

Fastweb board approves Swisscom's buy-out offer

Tuesday 5 October 2010 | 09:15 CET | News
Swisscom has won approval to offer to buy the remaining shares that it does not already own in its Italian fixed network subsidiary Fastweb. Swisscom has offered EUR 18 a share, leading to a total value of the remaining 17.981 percent at EUR 256 million. Fastweb's board has accepted the offer after a fairness opinion was carried out by its advisors. Swisscom will make the offer through its subsidiary, Swisscom Italia and will finance the purchase using existing credit lines or its own funds. After it buys all of the shares, it will delist Fastweb from the Milan exchange.

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Categories: Fixed
Companies: Fastweb / Swisscom
Countries: Italy / Switzerland
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