Wednesday, May 9, 2007

European Commission Approves Swisscom + FastWeb

The European Commission granted unconditional approval to the acquisition of Italy-based Fastweb by Swisscom.

  • In March 2007, Swisscom announced a bid to acquire Fastweb, Italy's second largest fixed-network operator and leading provider of IP-based services, for EUR 47 per share for a maximum total consideration of EUR 3.7 billion.

    Fastweb is Italy's leading alternative broadband telecommunications provider with more than one million customers, 2006 revenues and EBITDA of respectively EUR 1.26 billion and EUR 424.6 million.

See also