Liberty Global has agreed to make an all cash public tender offer for all publicly held shares of Sunrise Communications Group at a price of CHF110 per share.
The acquisition will combine Liberty’s UPC Switzerland cable operator with Sunrise that has one of the world’s leading 5G networks. UPC Switzerland is the country’s leading provider of gigabit broadband, and offers the best video platform with features such as voice control, 4K, full content offerings and best in-class TV apps.
Together, the combined business would have CHF3.17 billion in revenue, 2.1 million mobile post-paid subscribers, 1.2 million broadband subscribers and 1.3 million TV subscribers, reflecting approximately 30% market share in each segment. After a full acquisition of Sunrise, the combined business will be strongly positioned to continue its network roll-out including 5G and future technologies, supporting a range of new and enhanced products and services.
Mike Fries, CEO of Liberty Global
This powerful combination of 5G wireless and gigabit broadband will accelerate digital investment at a time when connectivity has never been more essential. Fixed-mobile convergence is the future of the telecom sector in Europe, and now Switzerland will have a true national challenger to drive competition and innovation for years to come.
