Swiss operator Sunrise said it cancelled the extraordinary general meeting scheduled for 23 October to authorize the capital increase of CHF 2.8 billion to finance the acquisition of UPC Switzerland.
The board of directors of Sunrise decided to cancel the meeting due to a lack of a “clear majority” of the shareholders in favor of the capital increase.
The largest shareholder in Sunrise, Freenet, reiterated its intention to vote against the capital increase, while other shareholders have expressed their doubts about the takeover. The board of directors also concluded that the motions for the removal of the chairman Peter Kurer and the director Jens Jesper Ovesen will not be supported by a majority of shareholders.
