The Swiss Competition Commission (WEKO) has approved the acquisition of telecommunications company Sunrise by Liberty Global’s subsidiary UPC.
The transaction, which was announced in August 2020, creates the second-largest telecommunications group in Switzerland after Swisscom. Like Swisscom, UPC/Sunrise will have its own mobile and fixed network infrastructure.
According to the competition authority, there is no threat that effective competition will be eliminated, adding that UPC/Sunrise and Swisscom are not expected to engage in future coordination. Therefore, WEKO approved the acquisition without conditions or obligations.
One year ago Sunrise planned to take over UPC. WEKO examined the takeover in detail and approved it. Subsequently, however, the majority of the shareholders rejected the purchase.
In the current merger case, WEKO re-examined the market conditions, which in its opinion remained largely unchanged.