Swisscom's Debitel stake

By THIS IS MONEY
Updated:

 

Switzerland's partially privatised and cash-rich Swisscom is paying Swfr 2.56 billion (£1.04 billion) for a 58% stake in Germany's third-biggest telecoms group, Debitel.

Swisscom will acquire a 32.4% stake in recently floated Debitel from Daimler Chrysler financing arm Debis. It will also take a 17.7% stake from retail group Metro Holdings and a further 7.9% from Divaco, a joint venture between Metro and Deutsche Bank.

DaimlerChrysler and Metro retain 10% stakes.

The deal values Debitel shares at e32 each.

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