Swisscom buys directories business stake from Tamedia for 220 mln Sfr

TX AG

19/12/2018 06:35

ZURICH, Dec 19 (Reuters) - Swisscom  SCMN.S  is buying a 31
percent stake in Swisscom Directories from media company Tamedia
 TAMN.S  for 220 million Swiss francs ($221.68 million), making
the government-controlled telecommunications group the
business's sole shareholder. 
    The transaction will have no impact on Swisscom's net debt
because the deal to exercise the option for the directories
business from Tamedia has already been accounted for, Swisscom
said in a statement on Wednesday. 
    The transaction is due to be completed in the first quarter
of 2019.

($1 = 0.9924 Swiss francs)

 (Reporting by John Miller, editing by Tassilo Hummel)
 ((J.Miller@thomsonreuters.com; +41 58 306 7734; Reuters
Messaging: j.miller.thomsonreuters.com@reuters.net))