Swisscom

Swisscom is integrating its Network Construction division into the newly established Cablex AG which will be headquartered in Berne. Swisscom's Board of Directors has approved the separation into a fully-owned subsidiary as of 1 October 2001.  The new subsidiary will trade under the name of Cablex. It will be responsible for the construction and maintenance of Swisscom's fixed line network and will have around 700 employees throughout Switzerland. The network and network data will remain the sole property of Swisscom. Cablex AG will have annual in-house revenues of around CHF 220 million.