Swisscom has signed the contracts for the disposal of its 22.4% stake in BICS, a global wholesale carrier for voice, mobile data and capacity services, to the main shareholder Proximus.
The purchase price for Swisscom’s stake is around EUR 110 million. The second minority shareholder MTN is also selling its 20.0% stake in BICS to the main shareholder. This means Proximus will hold 100% of the shares in BICS.
Swisscom believes this is the right time to sell its stake as it wishes to invest only in strategically relevant businesses. The commercial contracts between Swisscom and BICS will remain in place. Swisscom handles much of its international telephone minutes business under a supplier relationship with BICS.
