Swisscom Blocked in Bid to buy 75% Stake in Telecom Liechtenstein
Published on: 28th May 2013
Note -- this news article is more than a year old.
Swisscom's delayed plans to buy a majority stake in Telecom Liechtenstein have been blocked by the Liechtenstein Parliament, after it expressed concerns that Swisscom wouldn't invest enough in the local broadband network.
Swisscom originally announced its plans to buy a 75% stake in the telecoms network back in September 2012, and planed to integrate the Liechtenstein network into its own systems.
At the time of the USD24 million deal, the Liechtenstein government supported the takeover, which was expected to be completed by the end of last year.
Swisscom currently holds a license for mobile services in Liechtenstein and used to be active in the local fixed network business there, but sold this to Liechtenstein in 2003.