Sunrise: COMCO approves the acquisition of UPC Switzerland Donnerstag, 26. September 2019 - 06:45

Sunrise sees this decision as confirmation of its own view that the transaction will give it a significant competitive edge, thereby making it an even stronger competitor. By acquiring UPC, Sunrise will have the most future-oriented high speed-broadband infrastructure, providing private and business clients all over Switzerland with the highest-quality Internet, whether via FTTH, cable, or 5G. As already communicated, Sunrise expects the transaction to open up significant cross-selling potential and allow the company to make significant savings, for instance in wholesale. In turn, the transaction will also create considerable added value for Sunrise shareholders and secure the company’s long-term profitability.

“We are very happy with WEKO’s decision and are continuing to work hard on the planned integration of UPC Switzerland into the New Sunrise. With WEKO’s approval, we have reached an important milestone on the path towards the New Sunrise. Sunrise’s takeover of UPC Switzerland means that the country will now have a real competitor in its telecommunications market. By merging the infrastructures of Sunrise and UPC Switzerland and investing around half a billion francs annually, Switzerland will get high-performance Internet infrastructure including 5G, which has the potential to provide 90% of households with broadband Internet speeds of up to 1 Gbit/s by 2021. Both private and business customers will be able to benefit from state-of-the-art communication solutions that provide increased performance at better prices. New Sunrise will thus gain a higher market share and be a strong partner for the Swiss economy", says Olaf Swantee, CEO of Sunrise.

This means that the transaction is no longer subject to any regulatory obstacles. The next step is for Sunrise to invite shareholders to a special general meeting, where a decision will be made on the required increase in capital. The general meeting is expected to be scheduled for October 23, 2019 and the transaction is expected to be completed by the end of November 2019.