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Weko gives the green light for the UPC to take over Sunrise
The Competition Commission (Comco) approves the purchase of Sunrise by the owner of the UPC, Liberty Global, for 6.8 billion Swiss francs.
The owner of the UPC can now take over Sunrise after the competition commission approves it.
(dpo) The planned acquisition of Sunrise is now officially green-lit: the Competition Commission (Weko) approves the acquisition by UPC’s parent company Liberty Global “without any conditions,” as it wrote in a statement on Friday. This paves the way for the second largest telecommunications company in Switzerland.
Like Swisscom, UPC / Sunrise will also have its own fixed and mobile network infrastructure. According to Comco, there is no threat of eliminating effective competition. Furthermore, it cannot be assumed that UPC / Sunrise and Swisscom will coordinate in the future.
The deal is worth CHF 6.8 billion. After the offering period expired on October 8, Liberty Global now owns 81.98 percent of all Sunrise shares. In December 2019, Sunrise planned to take over UPC for 6.3 billion. However, the company’s management had to cancel the planned purchase due to opposition from Sunrise shareholders.
