Swisscom sells Italian unit to Grapes
The country's biggest telecommunications operator, Swisscom, is selling an Italian subsidiary to the Dutch-based Grapes Communications as part of its strategy to focus on its core businesses.
No financial details of the transaction have been released but Swisscom said it was part of its plan to concentrate on its mobile communications and data services.
The Milan-based unit, Swisscom S.p.A, is a switch-based telecommunications service provider for business customers in northern Italy.
The 50 strong workforce will be taken on by Grapes and the service will be continued under a different brand.
Swisscom will focus its business strategy in Italy on the wholesale carrier business, Swisscom Carrier Services S.p.A.
Grapes Communications is the holding company of the Grapes Group, which is active in telecommunications in Italy, Spain and Greece.
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