Swisscom sells satellite stations
Switzerland's largest telecommunications group, Swisscom, said on Wednesday that it is selling its satellite ground stations to Verestar, a unit of United States group American Tower Operations, for an undisclosed price.
Swisscom's announced its intention to withdraw from satellite communications earlier this year. The sale is in line with the company's strategy to focus more on its core businesses in Switzerland, Europe and North America.
The move out of satellite communications also allows Swisscom to focus on the more economical submarine cables for its international traffic.
As part of the deal, Swisscom will sell its satellite ground station in Leuk, and the related infrastructure in Zurich, Basel and Geneva.
The deal gives Verestar a foothold in Europe and will allow it to cover the region around the Indian Ocean. Verestar provides Internet, data and voice communications services for cruise ships and the United States government.
Verestar will offer jobs to the 25 current employees and honour existing customer contracts.
Swisscom was rumoured to have been talking to British-based group NTL about the sale.
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