Scaglia case forces Fastweb to postpone shareholder meeting

Swisscom-owned Italian broadband provider Fastweb has decided to postpone its annual shareholder meeting from March 24 to April 22 as a result of the ongoing investigation into the operator’s activities.

Italian justice officials last month issued arrest warrants for a number of former Fastweb employees including co-founder Silvio Scaglia over tax fraud and money-laundering allegations. Fastweb said its board wished “to examine in depth the recent events involving the company in order to evaluate the matter so as to enable them to be accurately presented to shareholders”.

The annual meeting’s agenda remains unchanged. Swisscom’s own financial results and the timing of its annual meeting will not be affected.