BERNE, Switzerland-Swisscom said it plans to reorganize the company’s corporate structure, transforming the Swiss telecom company into a group of operationally independent companies by the end of 2001.
As part of the restructuring Swisscom said it plans to sell its stake in foreign fixed-line units and intends to focus on the wireless communications business.
Swisscom said it plans to sell it 50-percent holdings in Baden-Wuerttemberg to joint-venture partner Energie Baden-Wuerttemberg. Swisscom also plans to sell its 50-percent stake in France’s Estel and was in talks with Italian Swisscom SpA to develop future business opportunities with potential partners.
Swisscom-controlled Debitel AG is said to be in talks with five of the six winners of the recently auctioned German licenses, seeking an affordable deal for third-generation service after dropping out of the race due to high costs.
In addition, Swisscom’s executive board will be replaced with autonomous business management levels in the operational units and a group management level focused on financial and strategic matters.
