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Axxion seeks ouster of Sunrise chairman, board member amid takeover fight

Credit: REUTERS/ARND WIEGMANN

Sunrise Communications faces calls for its chairman and another board member to be removed, it said on Tuesday, as the Swiss telecommunications company fights to save its planned $6.4 billion takeover of Liberty Global's Swiss assets.

ZURICH, Sept 10 (Reuters) - Sunrise Communications SRCG.S faces calls for its chairman and another board member to be removed, it said on Tuesday, as the Swiss telecommunications company fights to save its planned $6.4 billion takeover of Liberty Global's LBTYA.O Swiss assets.

Funds group Axxion AXXION.SN requested the removal of Chairman Peter Kurer and board member Jesper Ovesen be put on the agenda of the upcoming extraordinary general shareholders meeting, whose date still must be set. Sunrise said it would review Axxion's proposal.

Top Sunrise shareholder Freenet FNTGn.DE and at least two other big investors are opposed to the 6.3 billion Swiss franc ($6.35 billion) takeover proposal to buy Liberty Global's UPC Switzerland unit, which includes a plan to issue new shares to help fund the deal.

($1 = 0.9919 Swiss francs)

(Reporting by John Miller, editing by John Revill)

((J.Miller@thomsonreuters.com; +41 58 306 7734; Reuters Messaging: j.miller.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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