Liberty Global Responds to Sunrise Termination of Share Purchase Agreement
November 12 2019 - 5:34PM
Business Wire
Liberty Global plc (“Liberty Global” or the “Company”) (NASDAQ:
LBTYA, LBTYB and LBTYK) responded to the notification of
termination received today from Sunrise Communications regarding
the amended Share Purchase Agreement concerning UPC Switzerland.
The agreement provides for Sunrise to pay a CHF 50 million
termination fee after providing the notice.
Mike Fries, CEO of Liberty Global, said:
“While we would have preferred to keep the current SPA in place,
we understand this move by Sunrise. The Sunrise board has been
navigating a difficult situation. We look forward to continuing our
conversations with either the board or Freenet about a potential
transaction that creates significant value for both sets of
shareholders and Swiss consumers. There is no question that UPC
remains the fulcrum player in Switzerland’s converging telecom
market.”
ABOUT LIBERTY GLOBAL
Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is one of the
world’s leading converged video, broadband and communications
companies, with operations in 6 European countries under the
consumer brands Virgin Media, Telenet and UPC. We invest in the
infrastructure and digital platforms that empower our customers to
make the most of the digital revolution.
Our substantial scale and commitment to innovation enable us to
develop market-leading products delivered through next-generation
networks that connect 11 million customers subscribing to 25
million TV, broadband internet and telephony services. We also
serve 6 million mobile subscribers and offer WiFi service through
millions of access points across our footprint.
In addition, Liberty Global owns 50% of VodafoneZiggo, a joint
venture in the Netherlands with 4 million customers subscribing to
10 million fixed-line and 5 million mobile services, as well as
significant investments in ITV, All3Media, ITI Neovision,
LionsGate, the Formula E racing series and several regional sports
networks.
For more information, please visit www.libertyglobal.com.
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