For 6.3 billion Swiss francs: Sunrise takes over UPC in Switzerland


The sunrise takes over UPC Switzerland for 6.3 billion Swiss francs. Sunrise writes in a statement.

The rumor mill was boiling on Wednesday. At night came the confirmation: The mobile operator Sunrise swallows the competitor UPC Switzerland. The price: impressive 6.3 billion francs.

"Today's announcement is an important milestone for Sunrise, our customers, employees and shareholders," Sunrise CEO Olaf Swantee said in a dawn news release.

UPC Director General Severina Pascu, who has just taken over the position just a few months ago, says: "The agreement reached today leads to a new, fully convergent national competitor in the Swiss market."

Weko has to approve the acquisition

There are also positive words from UPC President Eric Tveter: "The merger of the two companies now creates a single provider in the communications and entertainment industry."

Spicy: Sunrise takes over 3.6 billion francs of part of UPC's outstanding debt. Sunrise is financing the remaining part of the purchase price of 2.7 billion Swiss francs, issuing a rights issue worth 4.1 billion Swiss francs.

If the acquisition can definitely happen, it will be decided by the competition authorities. Sunrise anticipates completion in the second half of 2019. (pma)


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