Founded:October 1, 1997; 24 years ago (1997-10-01)
Swisscom AG is a major telecommunications provider in Switzerland. Its headquarters are located in Ittigen near Bern. The Swiss government owns 51.0 percent of Swisscom AG. According to its own published data, Swisscom holds a market share of 56% for mobile, 50% for broadband and 37% for TV telecommunication in Switzerland. Its Italian subsidiary Fastweb is attributed 16% of private clients and 29% of corporate clients share of Italian broadband and is also active in the mobile market.The Swiss telegraph network was first set up in 1852, followed by telephones in 1877. The two networks were combined with the postal service in 1920 to form Postal Telegraph and Telephone (PTT). The Swiss telecommunications market was deregulated in 1997. Telecom PTT was spun off and rebranded Swisscom ahead of a partial privatisation in 1997. The present-day Swisscom owns the protected brand NATEL, which is used and known only in Switzerland.In 2001, 25% of Swisscom Mobile was sold to Vodafone. Since then, Swisscom has bought a majority stake in Italy's second-biggest telecom company Fastweb.