October 22, 2019 / 4:59 AM / a month ago

Sunrise scraps meeting to approve rights issue for UPC takeover

ZURICH, Oct 22 (Reuters) - Sunrise Communications Group called off a shareholders meeting set for Wednesday to approve a rights issue needed to complete its 6.3 billion Swiss franc ($6.39 billion) acquisition of Liberty Global’s UPC business.

“Based on clear indications received from shareholders and Freenet’s announcement to vote against the capital increase at the EGM, the Board of Directors of Sunrise has concluded that the clear majority of shareholders who have registered their shares to vote at the EGM do not support the capital increase,” it said.

$1 = 0.9863 Swiss francs Reporting by Michael Shields; Editing by John Miller

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