Shareholders' Letter

Disposal of subsidiaries
As a result of exiting the broadband business in Eastern Europe, Swisscom Central & Eastern
Europe disposed of various companies in Bulgaria, Poland, Romania and the Ukraine in 2008 and
2009. The aggregated carrying amounts of the net assets sold as well as the aggregated net cash
received from the sales of subsidiaries in 2009 are presented in the table below:
In CHF million 2009
Property, plant and equipment 10
Goodwill and other intangible assets 1
Other current and non-current assets 6
Trade and other payables (2)
Total net assets sold 15
Sales price 13
Deferred payment of purchase price (9)
Cash inflow 4
Purchase of minority interests
As a result of a friendly takeover bid in May 2007, Swisscom acquired 82.08% of the share capital
of Fastweb S.p.A. (Fastweb). On 11 October 2010, Swisscom launched a public takeover bid for the
remaining 17.92% of the share capital of Fastweb. The bidding period lasted until 12 November
2010. Swisscom offered a price of EUR 18.00 per Fastweb share thus equating a total purchase
consideration of EUR 256 million. At the end of the bidding period, an additional 12.75% of the
share capital was tendered, thus corresponding to a purchase price of EUR 183 million (CHF 243
million). In addition, a further 0.16% was acquired on the stock exchange aggregating EUR 2 million
(CHF 3 million). A squeeze-out procedure was commenced for the remaining 5.01% of the share
capital of Fastweb and a financial liability of EUR 71 million (CHF 96 million) recorded. In addition,
transaction costs totalling CHF 7 million were incurred. It is anticipated that the takeover will be
consummated in the first quarter of 2011. Accordingly, no minority interests are disclosed any
longer for Fastweb.