Feeds

Swisscom bids €3.7bn for Fastweb

The Italian Job

Choosing a cloud hosting partner with confidence

Swisscom, the former state telecommunications monopoly, has announced plans to acquire Italy's second-largest broadband operator, Fastweb, in a deal valued at €3.7bn ($4.9bn).

The all-cash friendly takeover offer values Fastweb at €47 per share ($61.70), a premium of more than 10 per cent on €42.02 on their current price.

In a statement, the Fastweb board gave the proposed offer the thumbs up saying it provided "good development opportunities" for Italy's second-largest telecoms firm, AP reports.

Fastweb boasts 1.1 million subscribers and was the first firm in Italy to offer a package combining voice, data and video services over high-speed broadband connections. Swisscom is looking to expand overseas in a bid to escape the confines of a moribund domestic telecoms markets, Reuters adds.

Swisscom made a bid for the Republic of Ireland's Eircom in 2005 but this bid was blocked by the Swiss government. Now the former Swiss telecoms monopoly is casting its eye over the Alps for possible expansion.

Swisscom's interest in Fastweb emerged on Monday after two potential rival suitors - Vodafone and Sky Italia - indicated they weren't interested in tying the knot with Fastweb. ®

Remote control for virtualized desktops

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Reducing the cost and complexity of web vulnerability management
How using vulnerability assessments to identify exploitable weaknesses and take corrective action can reduce the risk of hackers finding your site and attacking it.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.