Court cancels publicly-held Sunrise shares

23 Mar 2021

All of the publicly-held shares of Swiss full-service provider Sunrise Communications have now been cancelled following the operator’s takeover by rival operator UPC, Sunrise has confirmed in a statement. The de-listing of the shares had been conditionally approved by the SIX Swiss Exchange in December last year after UPC initiated a squeeze-out to take full ownership of Sunrise following the completion of its public tender offer in November 2020, which had given the buyer more than 98% of Sunrise’s shares. Holders of the cancelled shares will be paid CHF110 (USD118.7) per cancelled share, with the amount corresponding to the price paid by UPC in its public offer.

Switzerland, Sunrise Communications (Sunrise UPC), UPC Switzerland (Sunrise UPC)