Fergie's Tech Blog

Swisscom-Eircom Deal Falls Through

Tim Richardson writes in The Register:

Swisscom's plans to acquire Irish incumbent Eircom have been ripped to shreds after the Swiss government said it would not allow the telco to make overseas investments for at least the next 12 moths.

If the Government sticks by its decision it means that Swisscom's plans to acquire Irish incumbent Eircom now lie in tatters. And any ambitions Swisscom might have had to snap up Danish telco TDC are also heading for the shredder.

A spokesman for Swiss government told Reuters: "We have told Swisscom that the government does not want them to get involved there (with Eircom). The (government's) board representative has been instructed to vote against such an engagement."

posted by Fergie @ 11/25/2005 09:51:00 AM