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13.08.2020
UPC owner offers CHF 6.8 billion to acquire mobile phone network
Yves Genier
Telecommunications ”Last year, Sunrise wanted to buy UPC Switzerland for 6.3 billion francs, which would have resulted in the merger of the second largest mobile operator in the country with the number one cable operator. The transaction failed following strong opposition from Freenet, Sunrise’s main shareholder. Less than a year later, this merger is on the table again, with great chances of being carried out, but with an inverted pattern: it is the owner of UPC, the American group Liberty Global, which offers this time – here to buy Sunrise for 6.8 billion francs. And which received the unanimous approval of the board of directors of the latter, in which sit representatives of Freenet.
Assuming the transaction takes place and obtains the approval of the Competition Commission, the merged entity would have 2.1 million mobile telephone subscribers and 1.3 million cable subscribers. . It would achieve a turnover of 3.1 billion fra
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