The planned takeover of Swiss cable operator UPC by Sunrise has finally failed. The Swiss telecommunications company has terminated the share purchase agreement with UPC parent company Liberty Global.
Swiss cable operator UPC is currently preparing the introduction of 1Gbps internet access which it wants to make available on its entire network later this year.
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).
Switzerland’s largest cable operator UPC has completed the transition of its mobile customers from Salt to Swisscom.
Eric Tveter, outgoing CEO of Switzerland’s largest cable operator UPC, is in favour of merging his company with another market player.
Severina Pascu, currently COO of UPC Switzerland, will succeed Eric Tveter as CEO from September 1.
Telenet Group Holding has nominated Amy Blair and Severina Pascu to be elected as directors at the upcoming general shareholders meeting of April 25.
UPC is creating a new consumer division by merging the activities of marketing, sales and customer operations into one entity.