Swisscom delays Bluewin flotation again
The country's biggest telecommunications company, Swisscom, has once again postponed the partial flotation of its Bluewin Internet Service Provider.
The company said it had taken the decision because of continuing weakness among telecom and new technology stocks. It also said it could afford the delay because of its healthy cash flow position.
Swisscom said the flotation would not take place until next year at the earliest and revealed that it was reconsidering whether Bluewin should be spun off at all.
Analysts say the company could decide to combine its portal with its domestic fixed line operation, giving it an edge on competitors in the fixed line business.
Swisscom put off a planned flotation off last year, citing stock market volatility.
The company is due to release first quarter figures on Thursday which are expected to show a further decrease in operating income. Swisscom has been feeling the pinch since the liberalisation of the telecoms sector two years ago led to tariff reductions.
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