News on 6 March 2001
Swisscom is to sell part of its real estate portfolio
- consisting of 28 commercial and office buildings - to Credit Suisse
Asset Management, for CHF 1.272bn (£527m). The property management
subsidiary, Swisscom Immobilien, will however continue to provide facilities
management at the properties.
A further 162 Swisscom buildings are to be sold following negotiations.
If successful, the company could earn CHF 500m (£207m) after tax
on the two transactions.
The company says the sale of 380,000 sq m (4m sq ft) of property is
part of its strategy to focus on core telecommunications activities.
Swisscom will rent approximately two thirds of the space on leases of
up to20 years, enabling the company to react more flexibly to changing
requirements.
