December 19, 2018 / 6:38 AM / 3 months ago

Swisscom buys directories business stake from Tamedia for 220 mln Sfr

ZURICH, Dec 19 (Reuters) - Swisscom is buying a 31 percent stake in Swisscom Directories from media company Tamedia for 220 million Swiss francs ($221.68 million), making the government-controlled telecommunications group the business's sole shareholder.

The transaction will have no impact on Swisscom's net debt because the deal to exercise the option for the directories business from Tamedia has already been accounted for, Swisscom said in a statement on Wednesday.

The transaction is due to be completed in the first quarter of 2019. ($1 = 0.9924 Swiss francs) (Reporting by John Miller, editing by Tassilo Hummel)

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