Liberty Global plans to take over Switzerland's Sunrise Communications in a surprise $7.4 billion deal announced by the companies on Wednesday.
FILE PHOTO: Swiss telecoms company Sunrise's logo is seen at its headquarters in Opfikon, Switzerland February 6, 2019. REUTERS/Arnd Wiegmann
Sunrise shares rose by more than a quarter to just below the offer price in early trade on Wednesday. “It’s a fair valuation,” Freenet CEO Christoph Vilanek told Reuters. “We believe that a merger on sensible terms makes sense.” “I’ve always said the market requires rationalisation and we remain opportunistic about strategic developments there,” Liberty Global Chief Executive Mike Fries told reporters. “The industrial logic of this deal is undeniable.”
The biggest deal, the sale of its cable networks in Germany and central Europe to Vodafone, netted $22 billion last year.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global warming collapses Canada's last intact ice shelfCanada's 4,000-year-old Milne Ice Shelf had been the country's last intact ice shelf until the end of July.
Read more »
Pandemic wrecks global Class of 2020's hopes for first jobLONDON (AP) — British fashion school graduate Phoebe St. Leger’s dream of landing a job at a design label is on hold. Like many others in the global Class of 2020, the pandemic is clouding her...
Read more »
From Belarus to Hong Kong, journalists 'are bearing the brunt of the global surge in repression'From Belarus to Hong Kong, journalists 'are bearing the brunt of the global surge in repression.' Analysis by brianstelter
Read more »
Global coronavirus cases top 20 million, doubling in 45 daysMITO, Japan (AP) — The number of confirmed coronavirus cases worldwide topped 20 million on Tuesday, more than half of them from the U.S., India and Brazil. Health officials believe the...
Read more »
Timeline: TikTok's journey from global sensation to Trump targetMicrosoft Corp's potential acquisition of TikTok's U.S. operations is the latest twist in a rollercoaster two years for the short video app, which has come under growing scrutiny from overseas governments as its global popularity soars.
Read more »