24 June 2014 – The holding company of the Swiss media group Tamedia on 17 April 2014 published the pre-announcement of a public takeover offer for all shares in PubliGroupe S.A. for a price of CHF 150 each and on 27 May 2014 increased the offer to CHF 190 per share. Swisscom AG on 16 Mai 2014 pre-announced a competing takeover offer of CHF 200 per share and on 17 June 2014 increased the offer to CHF 214 per share. On 27 Mai 2014 Swisscom and Tamedia reached an agreement on a common approach in the market of directory services (Search & Find). Tamedia has agreed with Swisscom not to increase its offer further and, if Swisscom’s takeover bid is successful, to tender the PubliGroupe shares held by Tamedia to Swisscom. Both Swisscom’s and Tamedia’s public takeover bids are being conducted in line with the applicable legal requirements. Following Swisscom‘s takeover offer for PubliGroupe, Swisscom and Tamedia will incorporate the companies local.ch and search.ch in a joint subsidiary. Swisscom will hold 69% of the joint subsidiary and consolidate the company, while Tamedia will hold the remaining 31%.

Walder Wyss AG advises Tamedia in all legal and tax aspects of the public takeover offer as well as the joint venture with Swisscom. The Walder Wyss team is being led by Urs P. Gnos (Partner, Corporate/M&A), Markus Vischer (Partner, Corporate/M&A) and Lucas Hänni (Counsel, Corporate/M&A) and further includes Reto Jacobs (Partner, Antitrust), Thomas Meister (Partner, Tax), Daniel Zimmerli (Managing Associate, Antitrust), Gion Giger (Managing Associate, Antitrust), Hubertus Hillerström (Managing Associate, Banking Finance), Ralph Imoberdorf (Associate, Corporate/M&A), Thierry Obrist (Associate, Tax) Carla Lang (Associate, Tax) and Samuel Lieberherr (Associate, Corporate/M&A).