--Freenet AG, the holder of a nearly 25% stake in Sunrise Communications Group AG, said it wouldn't participate in a right issue designed to raise funds for Sunrise's acquisition of UPC Switzerland from Liberty Global PLC (LBTYA), Reuters reported Thursday.

--Freenet said the proposed issue puts all the risk on existing shareholders, the report said.

--On Wednesday, Liberty Global said it would sell UPC to Sunrise Communications for an enterprise value of CHF 6.3 billion ($6.3 billion), with Sunrise acquiring certain debt items as well.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

February 28, 2019 16:18 ET (21:18 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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