Liberty Global in talks to sell Swiss cable business - reports

Saturday, 02. February 2019 02:01

Telecommunications giant Liberty Global is at an advanced stage of discussions with Swiss telecoms company Sunrise over the sale of its UPC cable business in Switzerland, the Financial Times reported on Friday citing sources familiar with the matter.

The details of talks, such as when a deal could be announced, were still unknown, with one source involved in the talks warning that negotiations could still unravel. Sources also said that the two companies previously discussed a €4 billion merger before which ultimately fell through. Liberty Global CEO Mike Fries has been considering the possibility of consolidation within the Swiss markets for the last few months, as an increasing number of European telecoms shift to merging their fixed and mobile networks.

Liberty Global sold its operations in Germany, Hungary, Romania and the Czech Republic to Vodafone Group Plc for a total value of around €19 billion in May last year. The deal was subsequently investigated by the European Competition Commission over concerns that it reduced innovations in telecoms and provided customers with fewer choices.

Related Links: Sunrise Communications Group AGLiberty Latin America Ltd.
Breaking the News / DZ