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4 Non-current assets held for sale

At the beginning of August 2016, Swisscom signed a contract to sell its participation of 10.6% in Metroweb S.p.A. Metroweb operates the largest fibre-optic network in Milan and Lombardy. The purchase price is around EUR 80 million (CHF 87 million). The completion of the sale is expected by the end of 2016 and depends on the approval of the Italian competition authority. The sale is expected to result in a gain of about CHF 40 million, which will be recognised as other financial income when the transaction is completed.