Sunrise chairman expects UPC deal to go through

Sunrise chairman expects UPC deal to go through

Sunrise Communications believes it will win backing to raise US$4.1 billion to complete its takeover of Liberty Global's Swiss business UPC, Chairman Peter Kurer told shareholders on Wednesday.

Logo of broadband and telecommunications provider UPC Schweiz is seen at its headquarters in Wallis
The logo of broadband and telecommunications provider UPC Schweiz is seen at its headquarters in Wallisellen, Switzerland February 18, 2019. REUTERS/Arnd Wiegmann

ZURICH: Sunrise Communications believes it will win backing to raise US$4.1 billion to complete its takeover of Liberty Global's Swiss business UPC, Chairman Peter Kurer told shareholders on Wednesday.

After Sunrise met more than 170 large shareholders and potential investors in recent weeks, "they view the transaction significantly more positively than before," he said.

He expected regulatory approval for the US$6.3 billion deal, adding a rival could well buy UPC should Sunrise fail.

(Reporting by Angelika Gruber, Writing by Michael Shields)

Source: Reuters

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