Swisscom wants to expand to Liechtenstein
Jörn Krieger | 12-09-2012
Switzerland's national telco Swisscom wants to acquire 75% of the shares in Telecom Liechtenstein, the telco serving the neighbouring Principality of Liechtenstein.
A letter of intent has now been signed with the Principality, as the company announced in Bern. Financial details were not disclosed.
Swisscom wants to take over the telecommunications business and integrate it into its Swiss business. The customers in Liechtenstein would then be able to benefit directly from its large product portfolio, added Swisscom.
Telecom Liechtenstein's cable network activities and its Swiss subsidiary Deep AG will not be taken over.
Swisscom already holds a mobile network licence in Liechtenstein and used to be active in the alpine country's fixed-line market, but sold this business to Liechtenstein in 2003.
Liechtenstein's parliament wants to decide about the necessary legal adjustments by the end of the year. The planned transaction will now thoroughly be checked with the take-over contracts to be worked out subsequently. If both sides reach an agreement, the contracts will be signed by the end of 2012.