Liberty Global has completed the spin-off of its Swiss business, Sunrise, into a separate publicly traded company.
The completion follows the approval of the transaction at a special meeting of Liberty Global shareholders on 25 October 2024. Liberty Global will continue to own and operate its Liberty Telecom businesses in Belgium, Ireland, Slovakia, the UK and the Netherlands.
“The successful completion of the spin-off marks an important milestone in our ongoing strategy to unlock value for Liberty Global shareholders, allowing them to directly participate in the future performance of Sunrise with its strong capital structure, attractive equity story, future cash generation potential and scope for dividends. Under the leadership of its experienced management team, Sunrise is well-positioned to continue to deliver innovative solutions and superior connectivity to Swiss consumers and businesses,” said Mike Fries, CEO of Liberty Global and incoming Chairman of Sunrise.
Trading Sunrise shares, in the form of Sunrise American Depository Shares (ADSs), will be distributed to Liberty Global shareholders by the ADS depository on 12 November 2024. Sunrise shares will commence trading on the Nasdaq under the ticker symbol “SNRE” on 13 November and the on the SIX Swiss Exchange under the ticker symbol “SUNN” on 15 November.
