Severina Pascu is moving from Liberty Global’s Swiss operations to become CFO and Deputy CEO of Virgin Media in the UK.
Baptiest Coopmans will become the new CEO of cable operator UPC Switzerland on February 1, 2020.
Uwe Schiller, Senior Vice President Finance and Investor Relations at Sunrise, will become the Swiss telecommunications company’s new CFO with immediate effect.
Olaf Swantee, CEO of Swiss telecommunications company Sunrise, steps back and will be replaced by André Krause, currently CFO, with immediate effect.
Liberty Global has terminated discussions regarding the combination of its subsidiary UPC Switzerland with local player Sunrise Communications.
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.
The showdown between the supporters and opponents of Sunrise’s takeover of UPC Switzerland will not take place for the time being: The Swiss telecommunications company pulls the emergency brake and, with approval by UPC parent company Liberty Global, cancels the extraordinary general meeting (EGM) scheduled for October 23, 2019.
In a bid to rescue the uncertain takeover of its subsidiary UPC Switzerland by Swiss telecommunications company Sunrise, Liberty Global is to participate in the capital increase arranged to finance the deal and become a shareholder in the combined entity.
Despite the downsized capital increase, Sunrise’s largest shareholder Freenet continues to reject the acquisition of UPC Switzerland from Liberty Global.
Faced with strong resistance by its main shareholder, Swiss telecommunications provider Sunrise is giving in and reducing its capital increase for the planned takeover of cable operator UPC Switzerland.