Switzerland’s Sunrise to raise $4.1 bln via rights issue for UPC takeover

03/22/2019 6:45:00 AM (GMT)

Swiss telecommunications company Sunrise Communications is seeking to secure $4.1 billion through a rights issue.

Sunrise Communications intends to use the proceeds from the rights issue to close on its takeover of UK peer Liberty Global’s Swiss business.

Sunrise Communications will buy Liberty Global’s business, UPC Switzerland, in a $6.3 billion transaction.

Annually, UPC Switzerland generates around $46 million in revenue.

Sunrise Communications AG

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