By Giulia Petroni

Swisscom AG said Friday that it is considering the sale of its 22.4% stake in Proximus Group's subsidiary BICS.

Following media reports, the Swiss telecommunications company confirmed shareholders of BICS--the company was previously known as Belgacom International Carrier Services--are exploring the potential sale of 51% of the company's shares.

Belgiun's Proximus holds a majority stake in BICS, followed by Swisscom, with the remainder held by South Africa's MTN Group Ltd.

No decision has been taken yet and it's currently not clear whether an agreement will be reached, according to Swisscom.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

July 17, 2020 04:12 ET (08:12 GMT)

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