The Swiss Times - Swiss News in English

National Council to Raise Higher Barriers for Takeovers by Post

The Swiss National Council has voted in favour of a motion by Thomas Rechsteiner (Mitte/AI) that would require the Swiss Post to submit any acquisitions of companies outside of its core business to the Federal Council for approval. The motion was passed with 94 votes in favour, 86 against and 3 abstentions. Rechsteiner argued that the Swiss Post was entering markets that were already well served with its acquisitions in the digital sector, and that this posed financial risks for the federal government as the owner of the Post. The Federal Council opposed the motion, arguing that it would blur the lines between the responsibilities of the Post's management and its own competencies.

©Keystone/SDA

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