Sunrise has buried the UPC-Deal official on Tuesday. Against the payment of a penalty of 50 million Swiss francs of the purchase is to be terminated, the contract with UPC-owner Liberty Global now, like the UPC-mother announced on Tuesday night in Denver.
The Swiss mobile provider Sunrise has applied to the UPC parent Liberty Global, therefore, officially, the dissolution of the agreement for the now-blown Acquisition of the cable network operator.
Liberty Global is on
Liberty Global hopes, meanwhile, to a new Deal for his daughter. The company wants to perform the communication according to further discussions with the Sunrise Board of Directors, respectively, of the largest Sunrise-shareholder in Freenet. These had fought in the run-up loudly against the proposed Acquisition of UPC. Liberty Global holds, a possible Takeover for the shareholders and the Swiss consumers is of considerable value.
The Swiss cable network operator, took the announcement by Sunrise to the knowledge. UPC will implement the growth plan continues, and in the development of its products, as well as in the Expansion of their cable network infrastructure to invest, is to Severina Pascu, CEO of UPC, Switzerland cited in a message.
By Sunrise, there was initially no opinion. The company plans to announce on Wednesday its latest quarterly figures.
dispute price
In October the failure of the Acquisition of UPC by Sunrise on the resistance of large Sunrise shareholders. Sunrise-a large shareholder in Freenet criticized, among other things, the purchase price as too high. An extraordinary General meeting was canceled at the last Minute, on the on the financing of the 6.3 billion Swiss francs for the purchase of the largest Swiss cable network operator matched would have been.
The Sunrise, and Liberty, laid down that the to 27. February 2020, valid purchase contract, at the earliest, after the 11. November may be terminated. Sunrise received at the same time the right to terminate the contract and thereafter for the penalty payment of 50 million francs.
This is a renewed attempt in the pants to form in the Swiss telecoms market a stronger Challenger to market leader Swisscom. The Swiss Federal competition Commission (Comco) said nine years ago, the planned merger of Sunrise and Orange. (chk/sda)
Created: 13.11.2019, 03:09 PM
