August 16, 2019 / 7:00 AM / a month ago

Freenet says to vote against Sunrise capital hike for UPC deal

FRANKFURT, Aug 16 (Reuters) - Freenet AG said on Friday it would vote against a proposed 4.1 billion franc ($4.19 billion) capital hike at Sunrise Communications to fund a takeover bid for Liberty Global’s Swiss unit UPC.

The German telecoms firm, which owns one-quarter of Sunrise, said it was not satisfied with the 6.3 billion franc bid for UPC, whose price and structure was “unbalanced and unfavourable for all Sunrise shareholders”. ($1 = 0.9788 Swiss francs) (Reporting by Douglas Busvine, editing by Riham Alkousaa)

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