8 Change of control and defensive measures

Under the terms of the Telecommunications Enterprise Act (TEA) and the Articles of Incorporation, the Swiss Confederation must hold the majority of the capital and voting rights in Swisscom Ltd. As such, there is no obligation to submit a takeover bid as defined in the Financial Market Infrastructure Act, as this would contradict the TEA.

Details on change of control clauses are set out in the Remuneration Report.