Request for cancellation of Publigroup shares
Swisscom is filing a petition with the Vaud Cantonal Court to have the Publigroupe shares that were not tendered declared null and void.
Publigroupe was informed in a press release on Friday that Swisscom has applied to the Cantonal Court of Vaud for a declaration of invalidity of the Publigroupe shares still held by the public due to the stake of over 98 percent acquired during the public takeover bid completed on September 5.
Swisscom had already announced this procedure in the prospectus for the public tender offer and in the media releases of August 29 and September 5, 2014 respectively. The procedure is expected to take around five to six months, after which the shares not tendered will be declared null and void. The minority shareholders will be compensated with 214 francs per share, which corresponds to the offer amount.
