CVC acquires Swiss operator Sunrise from TDC

News General Switzerland 17 SEP 2010
CVC acquires Swiss operator Sunrise from TDC
CVC Capital Partners (CVC) and TDC have reached a definitive agreement for investment funds advised by CVC to acquire Swiss telecommunications operator Sunrise. The transaction values Sunrise at an enterprise value of CHF 3.3 billion. With the new owner Sunrise will be able to continue its current challenger strategy whilst maintaining its high level of investment in infrastructure and distribution. The completion of this transaction is expected to occur in the fourth quarter, once approvals have been obtained from the Swiss competition and relevant regulatory authorities. The sale follows the cancellation of the merger between Sunrise and Orange Switzerland in June, after the merger was prohibited by the Swiss cartel office Weko. Sunrise is active on the Swiss market as fixed and mobile network operator and reported revenues of CHF 995 million for the first half of this year with an EBITDA of CHF 277 million. Sunrise had 2.86 million customers on 30 June including 1.9 million mobile customers.

Categories:

General

Companies:

Sunrise,  TDC Mobil

Countries:

Switzerland

Tags:

M&A buyouts & divestments

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