August 6, 2014 / 5:47 AM / 3 years ago

Swisscom says controls 90.59 pct of Publigroupe after offer

ZURICH, Aug 6 (Reuters) - Swisscom AG said it controls 90.59 percent of Publigroupe SA following a 468 million Swiss franc(514.46 million US dollars) offer after publishing house Tamedia bowed out of a rival bid.

Swisscom, Switzerland’s national telecoms operator, wants to gain control of PubliGroupe’s online directory platforms and had won support from the company’s board and major shareholders in June by sweetening its offer to 214 Swiss francs per share.

At the end of May, Tamedia agreed to accept Swisscom’s earlier 200-franc per share offer for its 17.6 percent stake in PubliGroupe and to jointly take over PubliGroupe’s directory business instead.

Swisscom said it will detail circumstances of the bid when it reports second-quarter earnings of Aug. 11.

Separately, Zurich-based Tamedia said its bid, at 190 francs a share, won 0.5 of Publigroupe.

1 US dollar = 0.9097 Swiss franc Reporting By Katharina Bart; Editing by Matt Driskill

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