The takeover of Sunrise by the Liberty Global group, owner of UPC, will give birth to a second heavyweight in the Swiss telecoms market, just behind the incumbent operator Swisscom.
Almost ten months after Sunrise’s attempted takeover of UPC Cablecom was aborted, the reverse operation is shaping up to be auspicious. What has happened in the meantime? One of Sunrise’s main shareholders, the German operator Freenet (24% of the shares), which had vetoed an adventure deemed too expensive, has now given the green light, seduced by the proposal of Liberty Global, an American group owner of UPC Cablecom. By offering 110 francs per share, it orchestrates a marriage that would value Sunrise at 6.8 billion francs.