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Broadband

Swisscom to buy rest of Fastweb for EUR 256 mln

Wednesday 8 September 2010 | 09:20 CET | News
Swisscom is preparing an offer to buy the remaining shares in Italian broadband operator Fastweb. Swisscom already owns 82.05 percent of Fastweb and wants to acquire the remaining 17.918 percent for EUR 18 per share, valuing the stake at EUR 256 million. Swisscom will offer a takeover price of EUR 18 per share in cash. This represents a premium of EUR 4.63 or 34.6 percent on the official share price on 7 September. Swisscom will finance the buy-out from its own funds or via an existing credit line. Irrespective of the deal, Swisscom will be in a position to pay a dividend in 2011 equivalent

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