Swisscom Regrets Parliament Decision Not To Privatize Co

ZURICH -(Dow Jones)- Swisscom, Monday said it regrets the decision of a Swiss parliamentary commission not to support the government proposal to sell the government's holding in the Swiss telecommunications company.

"Swisscom regrets this decision and hopes that the Swiss parliament will still find a majority solution," the company said in a statement.

Earlier Monday, a parliamentary commission said it wouldn't support the privatization of the former telecommunications monopoly. The commission said that the risks tied to a privatization were too high. The Swiss parliament is expected to decide on the potential Swisscom sale over the next few months.

"The complete or at least partial disposal of the government stake makes sense for the future development of Swisscom, particularly in view of the company's need to tap into new business areas both in Switzerland and abroad," the company added.

The Swiss government, which holds a 62.45% stake in Swisscom, recently proposed to divest its entire stake.

Company Web Site: http://www.swisscom.com

-By Goran Mijuk, Dow Jones Newswires; +41 43 443 80 47; goran.mijuk@dowjones.com

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Posted to the site on 10th April 2006