Confederation to retain majority stake in Swisscom
Published: Friday, Dec 20th 2024, 19:10
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The Confederation is to retain its majority stake in Swisscom for security policy reasons. This was decided by the Federal Council on the basis of an examination of the ownership strategy by the Department of the Environment, Transport, Energy and Communications.
The evaluation team concluded that the Confederation no longer needs a stake in Swisscom in order to ensure a good telecommunications and basic service in Switzerland, as stated in Friday's press release.
However, Swisscom's IT and communications infrastructure is a critical infrastructure. The uninterrupted exchange of information via telephone and Internet helps to ensure Switzerland's ability to act even in extraordinary situations, the statement continued.
As a shareholder, the federal government could influence the development and protection of this infrastructure more effectively and quickly than would be possible with the instruments of legislation, supervision and contractual agreements alone. Therefore, in the view of the evaluation team, there is no better solution in the short term than retaining the majority shareholding of 51%.
Other options such as a minority stake or a split-up of Swisscom were also examined, but were deemed less suitable and therefore not pursued further. Switzerland is legally obliged to hold the majority of Swisscom's share capital.
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