Swiss voters reject no-profit rule for public companies - TV

ZURICH (Reuters) - Swiss voters on Sunday rejected a proposal to require state-controlled companies such as Swisscom, Swiss Post or Swiss railway company SBB not to seek to make a profit. Around 67 percent of voters rejected the initiative brought by a consumer protection publishing house, according to projections by the GFS polling group for Swiss broadcaster SRF. A vote in favour had not been expected after support for the proposal had dwindled in opinion polls. The government had warned that accepting the initiative would hurt the companies' competitiveness and could lead to higher taxes. Swisscom, in which the state owns a 51 percent stake, had said a "yes" vote would put an end to the liberalisation of the telecommunications market and lead to insecurity among investors. (Reporting by Silke Koltrowitz. Editing by Jane Merriman)