Swisscom wants to buy FastWeb.(MERGERS AND ACQUISITIONS)

Swisscom submitted a proposal to FastWeb's board of directors to launch an all-cash friendly public tender offer on 100 percent of FastWeb, Italy's second-largest fixed-network operator and leading provider of IP-based services. Swisscom intends to offer to all FastWeb shareholders EUR47 per share for a maximum total consideration of EUR3.7 billion (about CHF 6 billion). Prior to submitting its proposal, Swisscom, with the consent of the board of directors of FastWeb, has performed a confirmatory due diligence exercise on FastWeb. Swisscom intends to make a long-term investment an