Business
Liberty Global Announces Definitive End Results of Sunrise Communications Group Tender Offer
96.6% of the Fully Diluted Share Capital of Sunrise Tendered Liberty Global Intends to Initiate a Squeeze-Out Procedure and Delist Sunrise Shares DENVER,
About this update from Liberty Global Ltd.
[{"type":"text","content":"\n96.6% of the Fully Diluted Share Capital of Sunrise Tendered\n\nLiberty Global Intends to Initiate a Squeeze-Out Procedure and Delist Sunrise Shares\n\n DENVER, Colorado--(BUSINESS WIRE)--\nLiberty Global (Nasdaq: LBTYA, LBTYB and LBTYK) announced today the definitive end results for the all cash, public tender offer of UPC Schweiz GmbH (a subsidiary of Liberty Global) to acquire all publicly held shares of Sunrise Communications Group AG (SIX Swiss Exchange: SRCG). 43,724,570 Sunrise shares have been tendered as of the end of the additional acceptance period, corresponding to 96.6% of the fully diluted share capital of Sunrise.\n\nThe completion of the tender offer is subject to certain offer conditions. After the settlement of the offer, Liberty Global intends to initiate a squeeze-out procedure and delist Sunrise shares from trading on the SIX Swiss Exchange. Sunrise is therefore expected to become a wholly-owned subsidiary within the Liberty Global group of companies.\n\nThe indicative timetable for the closing of the offer is as follows:\n\n\n\nMonday, November 9, 2020\n\n\n\n\nSunrise Extraordinary General Meeting\n\n\n\n\n\nWednesday, November 11, 2020 (expected)\n\n\n\n\nSettlement of the offer (subject to satisfaction of remaining offer conditions)\n\n\n\n\n\n\n \n\n\nABOUT LIBERTY GLOBAL\n\nLiberty 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.\n\nOur 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.\n\nIn 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 spo...