Swisscom wants to pay 475 million for Publigroupe
The planned purchase of advertising marketer Publigroupe by Swisscom is becoming more concrete. The telecommunications group presented the offer prospectus for the public takeover on Monday.
Accordingly, the offer period begins on July 8 and is expected to run until August 5. As previously announced, Swisscom will pay CHF 214 per Publigroupe share. The price was increased last week. The total value of the company thus amounts to CHF 475 million. According to Monday's communiqué, major Publigroupe shareholders, who together hold 25.28% of the shares, have undertaken to accept the offer at the improved conditions. "This means that there are commitments to accept Swisscom's offer of around 42.8 percent," the Group writes. The offer is subject to the condition that at least two thirds of the shares are tendered to Swisscom. The Publigroupe Board of Directors recommends that shareholders accept the offer.
At the end of May, Swisscom and Tamedia agreed on a joint approach for the takeover. The Zurich-based media group, which holds 17.6 percent of the shares, had also previously expressed an interest in Publigroupe. Swisscom is primarily targeting the lucrative advertising platform Local.ch. The telecoms giant already owns half of Publigroupe's prime asset. (SDA)
