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General

Will Freenet block Sunrise takeover of UPC Switzerland in order to force a Liberty Global bid for Sunrise?

Monday 2 September 2019 | 15:43 CET | Author: Tim Poulus | Market Commentary
Sunrise has become embroiled in a battle with its major shareholder Freenet over the proposed acquisition of UPC Switzerland. Freenet thinks the takeover is too expensive, and the seller, Liberty Global should share in the risk. The company has a point with the former but is on less firm ground with the latter. With a stake of 24.5 percent in Sunrise, Freenet can make it difficult for Sunrise to success in its planned rights offering to finance the deal. Sunrise will need to do its best at a roadshow with investors in the UK and US this month to convince the other shareholders to stay on

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Categories: General
Companies: Freenet / Liberty Global / Salt / Sunrise / Swisscom / UPC Switzerland
Countries: Switzerland
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