SCMWY Swisscom AG (PK)

60.87

0.43 (0.71%)

Last Updated: 20:11:54

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Share Name	Share Symbol	Market	Type
Swisscom AG (PK)	USOTC:SCMWY	OTCMarkets	Common Stock

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	0.43	0.71%	60.87	60.38	60.87	60.87	60.605	60.76	1,575	20:11:54

Fastweb 3Q Net Profit Down 69% To EUR3.9 Million On Higher Charges

02/11/2010 4:34pm

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Italian broadband operator Fastweb SpA (FWB.MI) said Tuesday its net profit in the third quarter fell 69% on higher charges, with earnings before interest, taxes, depreciation and amortization, or Ebitda, slightly up.

The Milan-based broadband operator, which was acquired by Swisscom AG (SCMN.VX) in 2007, said it posted a third-quarter net profit of EUR3.9 million, down from EUR12.6 million a year earlier.

In September, Swisscom launched a takeover offer on all outstanding shares of Fastweb, representing 17.9% of Fastweb shares capital, for an offer price equal to EUR18 a share. The offer will close Nov. 12.

Fastweb, Italy's second-largest telecoms operator by market value after Telecom Italia SpA (TI) said third-quarter Ebitda was up 0.5% at EUR140.2 million as revenue grew 5.5% to EUR470.5 million.

-By Giada Zampano, Dow Jones Newswires; +39 06 69766925; giada.zampano@dowjones.com