8 Change of control and defensive mea­sures

Under the terms of the Telecom­mu­ni­ca­tions Enterprise Act (TEA), the Swiss Con­fed­er­a­tion must hold the majority of the capital and voting rights in Swisscom Ltd. This requirement is also set out in the Articles of In­cor­po­ra­tion. There is thus no duty to submit a takeover bid as defined in the Financial Market In­fra­struc­tures Act, since this would contradict the TEA.

Details on change of control clauses are given in the section “Re­mu­ner­a­tion Report”.