Swisscom still set on foreign buys

Dec 05, 2005

Swisscom confirmed Monday it will not be buying out Eircom but said it remains interested in acquiring foreign companies.

In a news release, the company said that it should be coming up with an agreement with the Swiss government on future possibilities of buying out foreign companies by the end of this year. The Swiss telecommunications giant had been in talks for the past few weeks to buy out Ireland's Eircom, but the Swiss authorities voted against the potential deal. The government holds 66 percent of total shares in the company.

Under the current circumstances, therefore, Swisscom said in a news release that it "sees no possibility of a takeover bid," but it added that it "intends to continue, and expand, its core business strategy."

"In view of the limited opportunities for growth within Switzerland, the company has in recent years been examining the possibility of purchasing companies abroad subject to rigorous acquisition criteria i.e. profitable telecoms market leaders in Europe, majority holdings with clear management control by Swisscom, and restrictions on size but with a sound, stable financial base," it added.

Copyright 2005 by United Press International

Explore further: Form Devices team designs Point as a house sitter

add to favorites email to friend print save as pdf

Related Stories

Swisscom meets just 10 pct of iPhone 4 demand

Aug 08, 2010

Top Swiss telecoms operator Swisscom has only met 10 percent of demand for the Apple iPhone 4 since its troubled global launch, company chief Carsten Schloter said in a newspaper interview published on Sunday.

Swisscom faces fine by Swiss government

Apr 10, 2006

Swisscom has flatly rejected accusations by the Swiss government that it has deliberately and systematically overcharged foreign competitors for using its network. Whether or not the Swiss carrier is found guilty as charged, ...

Recommended for you

Form Devices team designs Point as a house sitter

20 hours ago

A Scandinavian team "with an international outlook" and good eye for electronics, software and design aims to reach success with what they characterize as "a softer take" on home security. Their device is ...

Man pleads guilty in New York cybercrime case

23 hours ago

A California man has pleaded guilty in New York City for his role marketing malware that federal authorities say infected more than a half-million computers worldwide.

Dish restores Turner channels to lineup

Nov 21, 2014

Turner Broadcasting channels such as Cartoon Network and CNN are back on the Dish network after being dropped from the satellite TV provider's lineup during contract talks.

LiquidPiston unveils quiet X Mini engine prototype

Nov 21, 2014

LiquidPiston has a new X Mini engine which is a small 70 cubic centimeter gasoline powered "prototype. This is a quiet, four-stroke engine with near-zero vibration. The company said it can bring improvements ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.