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Swisscom is purchasing Vodafone Italia for 8 billion euros. Anyone hoping the state government would stop the controversial deal at the last minute was disappointed on Friday. “The Federal Council was informed of the intention to purchase at an early stage,” said the Ministry of Environment, Transport, Energy and Communications (Uvek). It was determined that the acquisition would not conflict with the federal government’s strategic objectives.
The party of Uvek leader Albert Rösti (56) sees the situation differently. “The Senior Vice President is absolutely opposed to Swisscom’s adventure in Italy,” says Member of the National Assembly Franz Grüter (60, LU). In the past, the company has lost billions of dollars due to acquisitions abroad. “We therefore consider it a serious mistake for the Federal Council to approve the acquisition of Vodafone Italia.”
Grüter is aware that this situation can no longer be reversed. However, he wants to use a motion to make the Federal Council adapt its ownership strategy so that the acquisition of the company abroad is not possible in the future.
Grüter also says that he and “a large part of the SVP” support a motion by GLP President Jürg Grossen (54, BE) calling for the “complete privatization or division” of Swisscom. The parliamentary proposal, also presented on Friday, instructs the Federal Council to prepare a relevant template. The project is supported by 28 members of the national assembly from all bourgeois parties: 11 of them from the SVP, 10 from the FDP, 4 from the center and 3 from the GLP.
“We know what we’re getting into.”
Grossen explains his concern as follows: “The purpose of this motion is to demonstrate a way for the (partially) privatized Swisscom AG to continue to successfully play its leading role in the telecommunications industry, while at the same time protecting and promoting the interests of the shrinking of the Swiss population and economy.”
Swisscom CEO Christoph Aeschlimann (46) does not want to comment on the privatization debate. This is a “political problem”. It is of great importance that Swisscom has a major shareholder who supports the group’s “growth and investment strategy”. “So far the federal government has always supported us. “We hope this situation will continue in the future,” he said.
Aeschlimann believes that the prospects for success with the acquisition of Vodafone Italia are “much better” than with previous acquisitions abroad: “Swisscom has been operating in Italy for 17 years and knows the market very well. We know what we are getting into.”
Swisscom leadership is trying to make the takeover acceptable to politicians with monetary incentives. Aeschlimann said that if the takeover goes as planned, the dividend could be increased from 22 francs to 26 francs per share from 2026. “The federal government, our main shareholder, should receive around 100 million francs more a year from Swisscom.” Argument could be heard at these times.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
