Swiss telco Swisscom has fully acquired Swiss media and cinema company Cinetrade, operator of pay-TV broadcaster Teleclub.
Swisscom, previously holding 75% of the shares in Cinetrade, recently purchased the remaining 25% from Cinetrade founder Stephan Sager, a Swisscom spokesman confirmed. He declined to give details on the financial volume of the deal.
Sager will act as a consultant for Cinetrade in future; Cinetrade CEO Wilfried Heinzelmann will remain in his job position.
Cinetrade is involved in the movie and sports rights business, operates pay-TV broadcaster Teleclub and cinema chain Kitag.
Swisscom has been a shareholder in Cinetrade since 2005. In 2013, the telco increased its stake from 49% to 75%.
