Traders pointed to fears that the financial backing of Niel would pile on competitive pressure for Swisscom, though one trader said this may not come to pass given Niel made the purchase through his personal holding company rather than his listed company Iliad (>> ILIAD).

"Investors fear that Orange, with Iliad on board, could put even more pressure on Swisscom," a trader said.

(Reporting by Francesco Canepa in London and Rupert Pretterklieber in Zurich; Editing by Lionel Laurent)

Stocks treated in this article : ILIAD, Swisscom AG