Sunrise


Sunrise puts end to UPC acquisition

Sunrise has officially ended its interest in acquiring Liberty Global-owned UPC Switzerland.   While both parties were keen on the CHF6.3 billion (€5.67 billion) deal, repeated opposition from Freenet – which holds a 24.5% stake in Sunrise – ultimately proved to be its undoing.  The company had initially scheduled an EGM to approve the announced reduction […]

Sunrise extends 4K OTT TV service to Samsung smart TVs

Swiss operator Sunrise has extended the availability of what it describes as the first live 4K OTT TV app in the country. The OTT service is now available on Samsung smart TVs, and customers signing up to Sunrise TV neo max along with a Sunrise internet subscription will receive a new 55-ience Samsung TV “as […]

UPC deal in limbo after Sunrise scraps EGM 

Sunrise’s CHF6.3 billion deal to acquire UPC Switzerland from Liberty Global hangs in the balance after the former announced it has cancelled a planned EGM on October 23. The company had initially scheduled an EGM to approve the announced reduction in the size of the rights issue planned to finance its acquisition of UPC Switzerland. […]

Freenet rejects Liberty Global’s offer to take part in Sunrise-UPC Switzerland deal

Freenet, the largest shareholder in Sunrise, is still opposed to the Swiss service provider’s deal to buy Liberty Global’s UPC Switzerland, despite a new offer from the US seller to take part in the deal. With Freenet vocally opposed to the deal for months, Liberty Global attempted to smooth things over by announcing an agreement […]

Sunrise suffers setback as another proxy adviser rejects UPC plan

Swiss service provider Sunrise has suffered another setback to its efforts to secure shareholder approval for its planned acquisition of Liberty Global-owned UPC Switzerland. According to Reuters, proxy adviser ISS has recommended shareholders to vote against the revised rights issue proposed by the operator to finance the acquisition, citing a note sent to its clients […]

Sunrise chief claims growing support for Liberty Global deal

Sunrise is gaining shareholder support for its troubled agreement to buy UPC Switzerland from Liberty Global, which remains a “fantastic” opportunity to realise synergies and drive consolidation in the Swiss market, according to Sunrise CEO Olaf Swantee. Speaking to CNN, Swantee said that 75% of shareholders now back the revised capital increase planned by the […]

Sunrise in fresh move to secure shareholder OK for Liberty Global deal

Swiss telco Sunrise has announced a reduction in the size of the rights issue planned to finance its troubled acquisition of UPC Switzerland in a bid to secure shareholder approval for the deal. The telco is to reduce the size of the rights issue by CHF1.3 billion (€1.2 billion) to CHF2.8 billion ahead of a […]

Swiss competition body approves Sunrise acquisition of UPC Switzerland

Sunrise’s acquisition of Liberty Global-owned UPC Switzerland has been approved by the Swiss Competition Commission (COMCO). The approval, announced on Thursday, was granted without any conditions or stipulations.  Sunrise was pleased with the decision, and said that it expects the transaction to open up significant cross-selling opportunities along with creating added value for its shareholders.  […]

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 […]

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