Swisscom AG to repurchase a 25 percent stake in Swisscom Mobile

Swisscom AG to repurchase a 25 percent stake in Swisscom Mobile

Swisscom AG has said that they are now going to repurchase a 25 percent stake in Swisscom Mobile from Britain’s Vodafone Group Plc.

This deal would be worth around $3.5 billion and would help them expand their presence in the home market. However, the deal is somewhat more expensive than the expectations of market analysts.

The deal would help Swisscom to strengthen its domestic position especially after the Swiss government blocked foreign takeovers in the country.

Swisscom further said in a statement: “The move is aimed at enabling Swisscom to improve its position in terms of realizing its convergence strategy while at the same time raising shareholder payouts.”