Swisscom AG (SCMN.VX) Monday said it will offer EUR256 million to Fastweb SpA's (FWB.MI) minority sharholders.

MAIN FACTS:

--On 8 September 2010, Swisscom announced its intention to take over the minority interests in Fastweb of 17.918% via its subsidiary Swisscom Italia and to delist Fastweb from the Milan stock exchange.

--Swisscom Italia today submitted the required offer, the so-called prospectus, to the Italian stock exchange regulator, Consob, for review.

--Swisscom assumes that the offer period will start in thE second week of October and will probably end in mid-November. Swisscom will announce the exact dates of the offer period as soon as Consob has approved the prospectus.

--The purchase price offered to the minority shareholders is EUR18 per share in cash.

--The total purchase price is EUR 256 million.

--Swisscom already holds 82.082% of Fastweb's shares via its subsidiary Swisscom Italia.

--Swisscom will finance the purchase price using existing credit lines or its own funds. Furthermore, UniCredit Bank AG in Munich has given its assurance that it will issue a guarantee for the full purchase price.

--As a strategic partner with a long-term focus, Swisscom is investing in Fastweb with the clear objective of building on the company's existing competitive advantage and technological edge, as well as extending the company's portfolio of service offerings.

-Zurich Bureau, Dow Jones Newswires, +41 43 443 80 47; zurichdjnews@dowjones.com
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