World Markets

Freenet says it could support Sunrise/UPC Swiss tie-up

BERLIN, Feb 4 (Reuters) - Freenet, the largest shareholder in Switzerland'sSunrise Communications, is aware from media reports of cooperation talks between Sunrise and Liberty Global's local Swiss business UPC and welcomes the idea of consolidation, a Freenet spokeswoman said.

She said in response to an inquiry on Monday that various combinations were possible and Freenet would need to approve any cash deal, although this was not excluded should it conclude that a transaction was in Freenet's interests.

Freenet owns 24.6 percent of Sunrise, long the centre of speculation that it could link up with UPC, most recently in a report by the Financial Times.

Liberty is looking to divest assets where it does not see a profitable way into mobile markets. It has sold its Austrian unit to Deutsche Telekom, while the $21.8 billion sale of its operations in Germany and Central Europe to Vodafone is being reviewed by regulators.

Sunrise shares were down 0.7 percent by 1405 GMT, while Freenet stock was down 2.4 percent.


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

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More