Sunrise Communications Group AG agreed to buy Liberty Global PLC's Swiss un...
- Sunrise Communications Group AG agreed to buy Liberty Global PLC’s Swiss unit in a 6.3 billion Swiss francs deal to create a bigger challenger to Switzerland’s dominant mobile and internet provider Swisscom.
Sunrise will pay Liberty Global 2.6 billion Swiss francs in cash, and assume 3.6 billion Swiss francs of UPC’s debt, the company said in a statement. The deal gives Sunrise a big chance to leverage its brand name and distribution network “to improve the current negative trajectory of UPC Switzerland by cross-selling fixed broadband and TV offers to existing Sunrise customers,” the Swiss company said in a statement.
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