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LIBERTY GLOBAL PLC

(LBTYA)
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Liberty Global : Swisscom loses latest round of market abuse case

07/14/2021 | 08:35am EDT
FILE PHOTO: The logo of Swiss telecoms group Swisscom is seen at an office building, in Zurich

ZURICH (Reuters) - Swisscom said on Wednesday it will continue to fight telecoms regulator COMCO's decision that it abused its position in a bidding contest against Sunrise Communications 13 years ago, after it lost an appeal in a lower court.

The Swiss Federal Administrative Court concluded Swisscom had behaved improperly in the 2008 tendering process for the broadband networking of Swiss Post sites, largely upholding COMCO's decision though reducing its fine to 7.4 million Swiss francs ($8.05 million), from the original 7.9 million franc COMCO fine.

Sunrise claims it was impossible for it to submit a competitive tender because it was dependent on wholesale telecoms products provided by Swisscom for which the state-controlled telecoms company demanded too much money.

"The high prices charged by Swisscom for those preliminaries made it impossible for Sunrise to submit a competitive tender," the Federal Administrative Court said in a statement.

Swisscom contends that Sunrise, since bought by Liberty Global, would have been in a position to submit a competitive bid and plans to take its fight to the country's highest court.

"Swisscom will lodge an appeal against the judgement with the Federal Supreme Court," it said.

"Swisscom remains of the opinion that its behaviour in this tendering process was entirely in accordance with the law," Swisscom said in a statement.

($1 = 0.9194 Swiss francs)

(Reporting by John Miller;Editing by Elaine Hardcastle)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
LIBERTY GLOBAL PLC -3.76% 27.67 Delayed Quote.14.24%
SWISSCOM AG -1.08% 530 Delayed Quote.11.09%
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Sales 2021 10 897 M - -
Net income 2021 1 532 M - -
Net Debt 2021 13 015 M - -
P/E ratio 2021 10,6x
Yield 2021 -
Capitalization 15 388 M 15 388 M -
EV / Sales 2021 2,61x
EV / Sales 2022 3,61x
Nbr of Employees 23 000
Free-Float 92,8%
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Michael Thomas Fries President, Chief Executive Officer & Director
Charles Henry Rowland Bracken Chief Financial Officer & Executive Vice President
John Carl Malone Chairman
Enrique RodrÝguez Chief Technology Officer & Executive VP
Paul Alan Gould Independent Director
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