6/3/2019, 8:42 AM (Source: TeleTrader)
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Sunrise's UPC takeover under review

Sunrise Communications Group AG's takeover of Liberty Global's Swiss unit UPC Switzerland is being examined "in detail" by the Swiss competition authorities, the former said in a press release on Monday.

The telecommunications company said that the review by the Swiss Competition Commission was "in line" with its expectations. It added that it expected the transaction to be approved as it would "intensify competition" in the telecommunications market. It concluded that the commission should make its decision by October at the latest and that the transaction would be completed by the end of the year.

Liberty agreed to sell UPC to Sunrise for $6.3 billion at the end of February. The sale is part of Liberty's drive to restructure its portfolio, which has already seen it sell its operations in several European countries to Vodafone.

Baha Breaking News (BBN) / DZ