Business
Liberty Global Responds to Sunrise Termination of Share Purchase Agreement
DENVER, Colorado--(BUSINESS WIRE)-- Liberty Global plc (“Liberty Global” or the “Company”) (NASDAQ: LBTYA, LBTYB and LBTYK) responded to the notification of
About this update from Liberty Global Ltd.
[{"type":"text","content":" DENVER, Colorado--(BUSINESS WIRE)--\nLiberty 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.\n\n\nMike Fries, CEO of Liberty Global, said:\n\n\n“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.”\n\n\nABOUT LIBERTY GLOBAL\n\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\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\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 sports networks.\n\n\nFor more information, please visit www.libertyglobal.com.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20191112006124/en/\n\nInvestor Relations:\nMatt Coates, +44 20 8483 6333\nJohn Rea, +1 303 220 4238\nStefan Halters, +44 20 8483 6211\n\nCorporate Communications:\nMolly Bruce, +1 303 220 4202\nMatt Beake, +44 20 8483 6428\n\nSourc...