Switzerland’s largest telecommunications carrier Swisscom has raised its bid to acquire advertising group PubliGroupe, reports say, as the telco looks to establish a new competitor against Google in the search industry.
According to reports, PubliGroupe has raised its offer to $548 million to purchase the company and acquire its directories, assets that would help Swisscom establish a directory business to rival Google’s search services.
While Swisscom announced the heightened bid, PubliGroupe released a separate statement announcing its rejection of a lesser acquisition bid proposed by publishing firm Tamedia.
Swisscom and Tamedia are both after PubliGroupe’s directories, reports say.
If a deal should be reached, the merger would remain subject to approval by the nation’s federal Competition Commission.
Full content: Bloomberg
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