Mergers and Acquistions News
Categories: Telecoms
December 31st 2009, 17:02PM
Switzerland's competition body announced on Monday (December 28th) that it will investigate the planned merger between Danish telecoms firm TDC A/S, trading in the country as Sunrise, and the Swiss operations of France Telecom, known as Orange Switzerland.
The deal, which was agreed late in November, will see the two firms combine their Swiss subsidiaries, with France Telecom paying €1.5 billion to TDC and holding a 75 per cent stake in the new entity, while TDC will hold the remaining 25 per cent.
It is believed that the combined entity will account for around 38 per cent of the country's mobile telephony market and 13 per cent of fixed broadband connections, broadening the scope of services offered through more than 100 shops in Switzerland.
However, concerns have been raised by the Swiss competition authority, which Dow Jones reports as saying: "In various mobile phone markets, there are grounds to believe the planned merger might present or reinforce a market-dominating position."
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