Liberty Global has announced executives from both Sunrise Communications and Virgin Media will lead its recently expanded Swiss operation.
Liberty Global has completed its acquisition of Sunrise Communications.
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.
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.
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.
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.
Swiss telco Sunrise has acquired internet TV provider Wilmaa.
Swiss telecommunications providers Salt and Sunrise have agreed on a strategic partnership to supply households across Switzerland with fibre-optic-based broadband connections (FTTH).
Swiss telecommunications provider Sunrise accuses its rival Swisscom of having abused its dominant market position from 2001 to 2007, unlawfully hindering competition with its pricing policy for ADSL services.