Salt challenges Sunrise takeover by UPC

14 Sep 2020

Swiss full-service providers Sunrise and Salt have come to blows over plans for Liberty Global – parent company of rival operator UPC Switzerland – to take over the former. Salt contends that the proposed transaction violates the terms of their fibre joint venture, announced earlier this year. In a statement from the company late last month, Salt claimed that approval of the deal from Sunrise’s board and the tender of the company’s majority shareholder freenet’s 24.4% stake had ‘already destroyed significant value for Salt and its shareholders’. An application for an immediate injunction against the transaction was rejected by a Zurich court last week, but a further hearing is scheduled to take place today.

Switzerland, Salt (Switzerland), Sunrise (formerly Sunrise UPC), Sunrise Communications