Sáb, Feb 17th 2024
Liberty Global’s decision to spin-off Sunrise, a major telecom player, aims to unlock shareholder value through strategic investments and capital structure optimization.
After the announcement of Sunrises lower operating profit yesterday. Liberty Global has expressed intention to spin-off 100% of Sunrise shares in a capital restructuring scheme claims a press release from the owners of Sunrise GmbH.
Liberty Group plan on investing 1.5 Billion CHF to alleviate debt, the sources of funding will come from corporate liquidity as well as the proceeds of non-core assets to be sold.
The restructuring will see Sunrise listed on SIX’s Swiss stock exchange. With two classes of shares, UBS and JP have been hired as financial advisors for the case. Liberty is expecting this reclassification will come with a tax exemption for US shareholders.
We are excited at the prospect of being listed in Switzerland once again and
Sunrise CEO André Krause
providing local and international investors with access to our scaled FMC challenger position in the market.
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