A PYMNTS Company

Switzerland OKs Liberty Global’s Sunrise Acquisition

By  |  November 1, 2020

The Swiss Competition Commission (WEKO) has approved the acquisition of telecommunications company Sunrise by Liberty Global’s subsidiary UPC, reported Broadband News.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The transaction, which was announced in August 2020, will create the second-largest telecommunications group in Switzerland after Swisscom. Like Swisscom, UPC/Sunrise will have its own mobile and fixed network infrastructure.

    According to the competition authority, there is no threat that effective competition will be eliminated, adding that UPC/Sunrise and Swisscom are not expected to engage in future coordination. Therefore, WEKO approved the acquisition without conditions or obligations. 

    One year ago, Sunrise planned to take over UPC. WEKO examined the takeover in detail and approved it. Subsequently, however, the majority of the shareholders rejected the purchase.

    In the current merger case, WEKO re-examined the market conditions, which in its opinion remained largely unchanged.

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.