Liberty Global to acquire Swiss telecoms company Sunrise Communications for $7.4bn

The US group chaired by John Malone has agreed to acquire Sunrise for $7.4 billion including debt in a landmark tie-up for the country’s telecoms sector.  

Liberty Global CEO Mike Fries said: “This transaction is another significant step on our path to create fixed-mobile champions in all of our core markets, crystallizing the value of our superior broadband networks and driving long-term, sustainable free cash-flow growth.” 

Liberty Global comprises video, broadband and communications companies with operations in six European countries under the consumer brands Virgin Media, Telenet and UPC. 

Sunrise is a non-state-controlled telecoms company based in Switzerland, offering its mobile, Internet, TV and landline services to private and business customers. 

Legal advisors to Liberty Global: Homburger, Shearman & Sterling 

Financial advisors to Liberty Global: Credit Suisse International, J.P. Morgan, LionTree Advisors 

Legal advisors to Sunrise Communications: Lenz & Staehelin 

Financial advisors to Sunrise Communications: Deutsche Bank 

Edited by Ramata Diallo