November 13, 2019 / 5:50 AM / 24 days ago

Sunrise to pay Liberty Global 50 mln Sfr after Swiss deal break

ZURICH, Nov 13 (Reuters) - Sunrise Communications will pay a 50 million Swiss franc ($50.16 million) termination fee to Liberty Global after its agreement to buy the U.S. cable company’s Swiss business failed, Liberty Global said.

The 6.3 billion franc deal was abandoned after opposition from Sunrise’s biggest shareholder, Germany’s Freenet .

“We look forward to continuing our conversations with either the board or Freenet about a potential transaction that creates significant value for both sets of shareholders and Swiss consumers,” Liberty Global said in a statement late on Tuesday. ($1 = 0.9969 Swiss francs) (Reporting by John Miller)

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