Swisscom and Tamedia to develop directory services together

Berne and Zurich, 28 May 2014 - Swisscom and Tamedia want to work together to develop their directory business into a strong Swiss alternative to Google. Both local.ch and search.ch will continue as independent offerings in the user market. The cooperation between local.ch and search.ch will result in the most comprehensive Swiss directory and information platform for companies, private individuals and public bodies. The two providers, who compete in their segment with international providers such as Google, reach a combined total of 4.8 million Internet users in Switzerland each month.

local.ch, with its online directories platform local.ch and its Local Guide phone directories business, is a leading provider of directories in Switzerland. The group, which comprises the three companies Swisscom Directories Ltd, LTV Gelbe Seiten AG and local.ch AG, is half-owned by Swisscom, with the remaining 50% belonging to PubliGroupe.

search.ch is a leading Swiss search and information service. Among the offerings provided by search.ch are an electronic telephone directory, an interactive map, a route planner, local weather reports and up-to-date cinema listings. Tamedia has a 75% stake in the company, while 25% belongs to Swiss Post.

The Swiss media group Tamedia announced a public takeover bid for PubliGroupe at CHF 150 per share on 17 April 2014 and increased the offer on 27 May to CHF 190. This means that Tamedia's offer is below the Swisscom bid of CHF 200 per share submitted on 16 May 2014. Swisscom's offer prospectus will be published no later than Thursday, 12 June 2014. Tamedia has agreed with Swisscom not to increase its offer further and, if its takeover bid is successful, to offer Swisscom the PubliGroupe shares it owns. The public takeover bids are being conducted in line with the applicable legal requirements. 

As previously announced, Swisscom intends to sell PubliGroupe's minority shareholdings in the media companies SNP Société Neuchâteloise de Presse SA (29%), Südostschweiz Presse und Print AG (20%) and Rhône Media Press (18%) if its takeover bid is successful. Swisscom is not seeking to exercise influence over these companies. Swisscom will not oppose the announced sale of FPH Freie Presse Holding AG to Aktiengesellschaft für die Neue Zürcher Zeitung. Swisscom will consider all options for the other shareholdings.

Swisscom's takeover of PubliGroupe and the partnership between Swisscom and Tamedia are subject to the approval of the Federal Competition Commission.