Exclusive: Swisscom reviews $6.3 billion Fastweb sale as Vodafone lurks - sources

Reuters News
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Posted: Oct 07, 2014 2:54 PM

By Sophie Sassard, Pamela Barbaglia and Anjuli Davies

LONDON (Reuters) - Telecom operator Swisscom is reviewing the sale of its Italian broadband firm Fastweb, which is worth up to 5 billion euros ($6.28 billion), sources familiar with the situation said.

The Swiss majority state-owned firm, which has already rebuffed several takeover approaches from Vodafone for Fastweb, is now working with UBS, Vodafone's long-term adviser, to facilitate a deal, said the sources who could not be named because the matter is private.

Swisscom, Fastweb, Vodafone declined to comment; UBS was not immediately available for comment.