Feeds

Swisscom calls time on Eircom take-over talks

It's over

New hybrid storage solutions

Swisscom has ditched plans to buy Irish incumbent telco Eircom after being blocked from expanding abroad by the Swiss Government. Last month the Swiss Government - which owns 66 per cent of Swisscom - said it would vote against any plans to invest overseas.

The Government's position has now been confirmed and Swisscom has been forced to rewrite its business strategy.

In a statement today the telco said that in light of the Government's position, it will "not make any decisions on acquisitions of holdings in foreign telecoms companies with a public service mandate" until new strategic goals have come into force.

As a result, the telco said today: "Swisscom has broken off talks, confirmed on 9 November, with Eircom of Ireland in relation to a possible transaction. Under the circumstances Swisscom sees no possibility of a takeover bid."

Instead of looking to invest overseas, Swisscom intends to chuck €650m (£440m) a year invest in Switzerland's telecoms infrastructure and services such as broadband TV. ®

New hybrid storage solutions

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Apple Pay is a tidy payday for Apple with 0.15% cut, sources say
Cupertino slurps 15 cents from every $100 purchase
Forget silly privacy worries - help biometrics firms make MILLIONS
Beancounter reckons dabs-scanning tech is the next big moneypit
Microsoft's Office Delve wants work to be more like being on Facebook
Office Graph, social features for Office 365 going public
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.