Liberty Global Unit Meets Minimum Acceptance Offer Condition In Deal To Buy Sunrise Communications

(RTTNews) - Liberty Global plc (LBTYA, LBTYB and LBTYK), a video, broadband and communications company, announced Friday that its unit UPC Schweiz GmbH has met the the minimum acceptance offer condition in the all cash, public tender offer to buy Swiss-based Sunrise Communications Group AG.

As of the end of the main offer period, around 37.11 million shares of Sunrise have been tendered, corresponding to 81.98% of its share capital.

The additional acceptance period for the offer will start on October 15, and is expected to last until October 28.

Completion of the tender offer is subject to other conditions, including regulatory approvals. After the settlement of the offer, Liberty Global intends to initiate a squeeze-out procedure and delist Sunrise shares from trading on the SIX Swiss Exchange.

Sunrise is expected to become a wholly-owned subsidiary within the Liberty Global group of companies.