Confederation's shareholding in Swisscom lowered to 62.45%
Bern, 20.12.2005 - This year the Confederation has sold Swisscom shares to the value of CHF 1.35 billion. By participating in Swisscom's share buyback and the conversion of a bond issue, the Confederation's shareholding in Swisscom has been reduced to 62.45%.
This year the Confederation took part in the Swisscom share buyback programme. This resulted in the sale of 2.2 million shares at an average price of CHF 422.40, corresponding to an equivalent value of CHF 939 million. The Confederation was already able to sell 0.9 million shares at a price of CHF 450 from the conversion of a bond issue in February of this year.
An average price of CHF 430.40 was achieved for the 3.1 million shares sold in 2005. This has consequently resulted in CHF 1.35 billion flowing into the federal coffers. Under the Financial Budget Act, these extraordinary revenues are to be used for the purposes of debt reduction.
The Confederation now holds 38.4 million Swisscom shares, amounting to 62.45% of Swisscom's share capital. This reduction in its shareholding corresponds with the Confederation's stated intention of reducing its stake in Swisscom in the medium-term to the level of 50% plus 1 share to conform with market conditions.
Address for enquiries
Felix Senn, Head of the Federal Treasury, Federal Finance Administration, tel. 031 322 60 60
Publisher
Federal Department of Finance
https://www.efd.admin.ch/efd/en/home.html
