• Subscribe
  • Advertise
    • Media Info
    • Terms & Conditions for Advertisers
    • Mechanical Data

Broadband TV News

Independent. Since 2003

  • Home
  • News Line
    • Central & East Europe
    • People
  • TV
    • On Demand/VOD
    • IPTV
    • Cable
    • Satellite
    • Terrestrial
    • Distribution
  • Business
  • Tech
  • Columns
    • Chris Dziadul
    • Julian Clover
    • Robert Briel
  • Events
    • Events Diary
    • BTN Events
    • Events Coverage
    • Submit the details of your event
  • Features
  • Resources
    • White Papers

Sunrise to acquire UPC Switzerland from Liberty Global

February 27, 2019 21.59 Europe/London By Jörn Krieger

Swiss telecommunications company Sunrise has agreed to acquire cable operator UPC Switzerland, a wholly-owned subsidiary of Liberty Global, for an enterprise value of CHF6.3 billion (€5.5 billion).

With the transaction, Sunrise wants to reinforce its position as the second-largest market player in mobile, TV, broadband and fixed-line telephony after Swisscom and as the incumbent telco’s leading converged challenger.

“Today’s announcement is an important milestone for Sunrise, our customers, employees and shareholders. Together with UPC Switzerland, we will create a stronger, truly converged challenger and significant value for our shareholders,” said Olaf Swantee, CEO of Sunrise. “We are committed to accelerating innovation and enhancing customers’ experience, building on the enlarged scale of the combined business and superior next generation network infrastructure.”

Mike Fries, CEO of Liberty Global, said: “Today’s announcement further validates our strategy of building or enabling national champions in our core European markets. After 13 years of investment, innovation and growth, UPC Switzerland will combine with Sunrise to form a strong challenger in the Swiss market. This is a great moment for the Swiss consumer as network quality, product innovation and customer experience is at the heart of both companies. We are extremely proud of what we have achieved in this market, and are thrilled for our shareholders who will benefit from yet another example of value creation. After an investment of $1.6 billion in 2005, we will have realised at closing $6.5 billion of dividends and equity proceeds, or nearly four times our capital in this market.”

Severina Pascu, CEO of UPC Switzerland, added: “Today’s agreement will lead to a new fully converged national challenger on the Swiss market. The merger of the two entities will drive further investments and more innovation for the benefit of Swiss residential and business customers.”

Eric Tveter, chairman of UPC Switzerland, said: “We are very proud of the many successes we have achieved since Liberty Global’s acquisition of Cablecom in 2005. The combination of the two companies will now create a unique challenger in the communication and entertainment business.”

UPC is Switzerland’s leading cable operator with access to 2.3 million homes (60% of total Swiss homes), serving 1.1 million customers. With more than 3 million customers, Sunrise is a strong player in the mobile market, and also offers TV, internet and fixed-line telephony.

The takeover comes as no surprise following Sunrise’s confirmation that it is in “advanced negotiations” with Liberty Global regarding the acquisition of UPC Switzerland.

The transaction is subject to regulatory clearance which Sunrise anticipates to receive in the second or third quarter of 2019. The closing is expected to take place during the second half of 2019. The combined business will continue to be called Sunrise and to be listed on the SIX Swiss Exchange.

Liberty Global has been favourable towards consolidation in the Swiss market with its total of four full service providers Swisscom, Sunrise, UPC and Salt, and discussions with Sunrise regarding a combination of their assets in Switzerland have been going on for a while.

The decision to exit Switzerland is in line with Liberty Global’s recent moves to sell its cable subsidiaries in Austria, in Germany and Eastern European countries and its DTH satellite operations in Central and Eastern Europe.

  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)

Related

Filed Under: Cable, Editor's Choice, Finance, Newsline, Top Story Tagged With: acquisition, Cablecom, Eric Tveter, Liberty Global, Mike Fries, Olaf Swantee, Severina Pascu, Sunrise, Swisscom, UPC Switzerland Edited: 1 March 2019 09:03

Avatar photo

About Jörn Krieger

Jörn reports on the latest developments in Germany, Austria and Switzerland. Since 1992, he has been working as a freelance journalist, specialised in digital media, broadcast technology, convergence and new markets. He also takes up University lectureships, writes articles in specialist publications, and produces radio reports. Jörn is also a moderator of panel discussions at industry events such as ANGA COM, Medientage München and IFA Berlin.

Latest News

  • BBC reveals presenter line-up for revamped BBC News Channel
  • Boing to be replaced by Cartoonito in France
  • Russia approves VimpelCom sale
  • Poland confirms Russian channel ban
  • New location for Bulgaria’s Nova Broadcasting

Free Ebook

Whitepaper: Why Wi-Fi 6 is Key for ISP Success

Wi-Fi 6 and Wi-Fi 6E client devices are entering the home in an unprecedented way, surpassing 50% market share since their introduction in 2019 (compared to four years for Wi-Fi 5). … [Download the eBook...]

Q & A

Q&A with Przemyslaw Frasunek, Redge Technologies

Broadband TV News speaks with Przemyslaw Frasunek, the CEO of Redge Technologies, about the CEE region OTT landscape and the most effective video security solutions.

Broadband TV News

  • Subscribe
  • About us
  • Contacts
  • Logos & Pictures
  • Privacy Policy
  • Terms and Conditions

Advertising

  • Media Info
  • Terms & Conditions
  • Mechanical Data
  • Video Services

News

  • Latest
  • Central & East Europe
  • TV
  • Tech
  • Streaming
  • Cable
  • Satellite
  • Terrestrial
  • IPTV
  • Business
  • People

Events

  • Events Diary
  • BTN Events
  • Submit the details of your event
  • Media Meet & Greet

Broadband TV News

PO Box 499
Cambridge
United Kingdom
CB1 0AH
news@broadbandtvnews.com

Connect with Us

 

Copyright © 2023 Broadband TV News LLP · Log in

 

Loading Comments...