Swisscom acquires Swisscom Directories outright, Tamedia sells shares
The telecommunications group Swisscom is taking over the joint venture Swisscom Directories, previously held with Tamedia, in full. This is an exercise of a purchase option agreed in 2015.
Swisscom is paying CHF 220 million plus non-operating cash for Tamedia's 31 percent stake, as the two companies announced on Wednesday.
Swisscom already held 69% of the shares, making it the sole shareholder. The directory service Swisscom Directories (Localsearch) emerged from the merger of Local.ch and Search.ch in 2015. Swisscom and the publishing house Tamedia agreed on this merger as part of the takeover of Publigroupe by Swisscom in 2015.
The two companies had granted each other a put and call option for Tamedia's stake in Localsearch. These options have been exercisable since mid-2018. The transaction is expected to be completed in the first quarter of 2019. (SDA/pd)
