Swisscom Buys Rest of Comfone (from Vodafone) to Boost Roaming Trade
Bloomberg News
September 16, 1999, 8:39 a.m. PT
Swisscom Buys Rest of Comfone to Boost Roaming Trade
Bern, Sept. 16 (Bloomberg) -- Swisscom AG, Switzerland's
biggest phone company, said it bought the 50 percent in Comfone
it didn't own from Vodafone Europe Holding BV, a unit of Vodafone
AirTouch Plc., to strengthen its international roaming business.
Comfone, which was formed by Swisscom and Vodafone in 1997,
has 500 network connections with 90 operators worldwide and
offers access to 200 bilateral roaming partners of Swisscom via
an international roaming platform. The terms of the transaction
weren't disclosed.
Like other former monopolies, Swisscom is under pressure to
seek growth abroad as rivals encroach on its traditional voice
business. The takeover will strengthen Swisscom's position in the
international roaming market, in which users get access to other
operators' network.
``In addition to signaling and network access, these also
include data and financial services, which are becoming
increasingly important in the growth market of international
roaming,' the company said adding that it's also strengthening
Comfone's future role as a so-called roaming broker.
Swisscom shares fell 4 francs, or 0.9 percent, to 458 ($297)
on the Swiss Exchange. Vodafone Airtouch shares fell 19 pence, or
1.5 percent to 1,243p ($20.18) in London. |
