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November 13, 2019 09.18 Europe/London By Jörn Krieger



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The abandoning triggers the acquittal of a amends of CHF50 actor (€46 million) to Liberty Global. Sunrise expects absolute added costs of CHF70-75 actor accompanying to the transaction, consisting of underwriting fees (CHF19 million) advising and acknowledged fees, as able-bodied as already incurred affiliation costs (CHF24 million).

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The planned accretion of UPC Switzerland agreed in February 2019 bootless due to action from Sunrise shareholders, in accurate its better distinct actor Freenet, who alone the acceding agreed with Liberty Global.



Liberty Global addendum the abortion accustomed from Sunrise, but charcoal accessible for the renegotiation of a transaction. “While we would accept adopted to accumulate the accepted allotment acquirement acceding in place, we accept this move by Sunrise,” said Mike Fries, CEO of Liberty Global.



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“The Sunrise lath has been abyssal a difficult situation. We attending advanced to continuing our conversations with either the lath or Freenet about a abeyant transaction that creates cogent amount for both sets of shareholders and Swiss consumers,” added Fries. “There is no catechism that UPC charcoal the blueprint amateur in Switzerland’s advancing telecom market.”

UPC Switzerland now wants to accompany its business as a stand-alone company. “UPC continues to apparatus its advance plan, advance in the added development of its articles and in the amplification of its high-performance cable arrangement infrastructure,” said CEO Severina Pascu.

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“We are actual appreciative of the able after-effects UPC has accomplished over the aftermost months: in the aftermost quarter, our net adds were absolute again. During the aftermost year we accept delivered a beauteous arrangement of innovations – from the new UPC TV experience, which is actual accepted with our customers, to the absolute adaptable portfolio. And aloof recently, we launched Gigabit internet acceleration beyond the absolute UPC footprint, thereby authoritative a cogent addition to the digitisation of Switzerland,” added Pascu.

“UPC is continuing to advance acerb in the digitisation and description of processes and systems. These accomplishments prove that we are auspiciously implementing our advance plan and we will now abide to body on these achievements,” fatigued Pascu.

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Filed Under: 2nd Story, Cable, Finance Tagged With: Freenet, Liberty Global, Mike Fries, Severina Pascu, Sunrise, UPC Switzerland Edited: November 13, 201912:21

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