Swisscom to acquire 75% Telecom Liechtenstein stake
12 September 2012 |
Swisscom has entered into an agreement to acquire a 75% stake in state-owned Telecom Liechtenstein and integrate the operator into its Swiss business.
Under the declaration of intent, Swisscom will take over both the telecoms business and telecoms infrastructure belonging to the Liechtenstein power company.
The Swiss carrier said that the deal would ensure that customers in Liechtenstein continue to benefit from modern telecoms infrastructure, and attractive telecoms products and services.
The cable network of Telecom Liechtenstein and its Swiss subsidiary Deep AG will not be included in the takeover.
Liechtenstein’s parliament will decide on any legal adjustments for the takeover towards the end of 2012. Contracts are set to be signed by the end of the year, once the two sides have reached an agreement.
This is not the first agreement between the two companies, with Swisscom having sold its local fixed network business to Telecom Liechtenstein in 2003. Swisscom also holds a licence for mobile services in the country.