Sunrise


Swiss deal ‘makes tons of sense’, says Liberty Global chief

Liberty Global’s agreement with Sunrise to divest its UPC Switzerland unit “makes tons of sense” and it is up to the Swiss telco to “manage its shareholder base” and see the deal through, according to Liberty president and CEO Mike Fries. Speaking at the Goldman Sachs Communacopia conference in New York, Fries said that Liberty […]

Sunrise faces fresh opposition to Liberty Global deal

German activist investor Active Ownership Capital (AOC) has joined the growing list of investors in Swiss telco Sunrise to openly oppose its agreement to acquire Liberty Global’s Swiss unit. According to Reuters, citing AOC founding partner Florian Schuhbauer, the investment outfit things the price paid for UPC Switzerland is too high. Schuhbauer told Reuters that […]

Sunrise faces new challenge with call for removal of chairman

Swiss service provider Sunrise is continuing to feel the heat in its battle to see through its acquisition of Liberty Global’s Swiss unit, UPC Switzerland, with one of its investors calling for the removal of its chairman. Sunrise said that Luxembourg-based funds group Axxion had requested the removal of Peter Kurer, Chairman and Member of […]

Sunrise bolsters case for UPC deal with new fairness opinion

Swiss telecom operator Sunrise has boosted its case in its battle with its biggest shareholder Freenet over the terms of its planned acquisition of cable operator UPC Switzerland from Liberty Global by receiving a favourable opinion on the fairness of the deal from ValueTrust Financial Advisors. According to to Sunrise, ValueTrust reviewed the key performance […]

More Sunrise shareholders reportedly leaning towards opposing Liberty deal

Additional shareholders in Sunrise are leaning towards joining German service provider and Sunrise’s largest shareholder Freenet in opposing the Swiss telco’s acquisition of UPC Switzerland, according to a report by Reuters. Citing unnamed sources, Reuters reports that two big investors will oppose the deal with Liberty Global, while a third has expressed reservations. Additional opposition […]

Liberty Global rejects changes to Sunrise deal

Liberty Global has rejected making any changes to its agreement with Sunrise for the sale of its Swiss unit following the eruption of hostilities between Sunrise and its biggest shareholder, Germany’s Freenet over the terms of the deal. Noting the “recent statements” from the pair on the transaction, Liberty said that was “fully committed to […]

Sunrise at war with Freenet over Liberty Global deal

The battle between Swiss service provider Sunrise and its largest shareholder Freenet over the former’s plans to acquire UPC Switzerland has escalated, with Sunrise accusing Freenet board representatives of “a conflict of interest” and resolving to exclude them from discussions about the merger. Sunrise also asserted that Freenet had previously proposed an illegal acquisition of […]

Freenet ‘not satisfied’ with Sunrise/UPC Switzerland deal 

German operator, and Sunrise’s largest shareholder, Freenet will vote against the telco’s proposed takeover of UPC Switzerland. Freenet, which owns a 24.5% stake in Sunrise, issued a statement that said: “Freenet is not satisfied with Sunrise’s acquisition of UPC Switzerland for a purchase price of CHF6.3 billion (€5.8 billion) and decided to vote against the […]

Swiss regulator launches in-depth probe of Liberty Global-Sunrise deal

Switzerland’s competition watchdog is to launch an in-depth examination of telecom operator Sunrise’s planned acquisition of UPC Switzerland from Liberty Global. Sunrise said the announcement of the detailed probe of the deal by COMCO/WEKO was in “in line with [its] expectation”. COMCO said that its preliminary look at the deal had revealed some indications that […]

Sunrise optimistic on completing Liberty Global deal in Q4

Swiss service provider Sunrise says it has been “broadly supported” its acquisition of Liberty Global’s Swiss unit by investors and expects the deal to be closed in the fourth Quarter following a final regulatory approval. Sunrise CEO Olaf Swantee has already said he believed the deal could win shareholder approval despite resistance from the company’s […]

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