The Swiss Competition Commission (WEKO) has approved the acquisition of telecommunications company Sunrise by Liberty Global’s subsidiary UPC.
Liberty Global has announced that 43,670,149 Sunrise shares have been tendered, corresponding to 96.48% of the fully diluted share capital of Sunrise.
Liberty Global’s CEO Mike Fries has said the company is studying the opportunities around network infrastructure.
The vast majority of shareholders in Swiss operator Sunrise have agreed to a CHF6.8 billion buyout offer from Liberty Global, Sunrise said in a statement.
Universal Electronics (UEI) is supplying a new voice-enabled remote control that will be used across six European countries.
Swiss telecommunications company Salt considers suing Sunrise, arguing that its competitor’s sale to Liberty Global would be in breach of an agreement signed months earlier.
Liberty Global has introduced what it describes as its “greenest-ever set-top box”.
After the failed acquisition of Swiss cable operator UPC by local telco Sunrise, UPC parent company Liberty Global is now turning the tables and wants to take over Sunrise.
Liberty Global saw revenues decline by 4.5% in the second quarter as the TV and broadband operator felt the effects of the coronavirus pandemic.
The Competition and Markets Authority is to ask the European Commission to take full control of the review into the merger of Liberty Global’s Virgin Media and Telefonica’s O2.