Swisscom (Worblaufen, Switzerland) has announced plans to buy a 75% stake in Telecom Lichtenstein (Vaduz), the incumbent telecoms operator in the small European principality.
It has already signed a declaration of intent with authorities in the country but has not disclosed the details of any pending financial transaction.
Swisscom intends to acquire the telecoms business and infrastructure that is currently held by the Lichtenstein power company (LKW) and ingrate them with its own operations.
Telecom Lichtenstein’s cable network and Swiss subsidiary Deep AG will not, however, be included in the takeover.
Swisscom already has a license to offer mobile services in Lichtenstein and used to own a fixed network there, but it sold the latter to the principality in 2003.
Swisscom’s press release on the news says the Lichtenstein parliament is to decide on the necessary legal adjustments for the takeover towards the end of the year. “The business is now being scrutinised in detail and the transfer contracts will then be negotiated,” it says.
Contracts are expected to be signed by the end of 2012 once the two sides have reached agreement on the specifics.