Liberty Global Supports Cancellation of Sunrise EGM
22 October 2019 - 3:55PM
Business Wire
Liberty Global plc (“Liberty Global” or the “Company”) (NASDAQ:
LBTYA, LBTYB and LBTYK) announced today that it supports the
cancellation of Sunrise Communications’ Extraordinary General
Meeting (EGM), which had been scheduled to take place Wednesday,
October 23, 2019. Sunrise was seeking approval for an ordinary
capital increase by way of a rights offering to finance its pending
acquisition of UPC Switzerland. Sunrise has reviewed the vote
tally, including the intention of its largest shareholder Freenet
to vote against the deal, and determined that the proposal was
unlikely to be approved by shareholders.
The existing share purchase agreement between the parties will
remain in place with some minor amendments, including the
flexibility to convene a new EGM and certain adjusted termination
rights. In addition, the commitments by Liberty Global in the
recently announced Conditional Rights Purchase Agreement will lapse
and thereby terminate.
ABOUT LIBERTY GLOBAL
Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is one of the
world’s leading converged video, broadband and communications
companies, with operations in six European countries under the
consumer brands Virgin Media, Telenet and UPC. We invest in the
infrastructure and digital platforms that empower our customers to
make the most of the digital revolution. Our substantial scale and
commitment to innovation enable us to develop market-leading
products delivered through next-generation networks that connect 11
million customers subscribing to 25 million TV, broadband internet
and telephony services. We also serve 6 million mobile subscribers
and offer WiFi service through millions of access points across our
footprint.
In addition, Liberty Global owns 50% of VodafoneZiggo, a joint
venture in the Netherlands with 4 million customers subscribing to
10 million fixed-line and 5 million mobile services, as well as
significant investments in ITV, All3Media, ITI Neovision,
LionsGate, the Formula E racing series and several regional sports
networks.
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version on businesswire.com: https://www.businesswire.com/news/home/20191021005905/en/
For more information, please visit www.libertyglobal.com or
contact:
Investor Relations: Matt Coates +44 20 8483 6333 John Rea
+1 303 220 4238 Stefan Halters +44 20 8483 6211
Corporate Communications: Bill Myers +1 303 220 6686 Matt
Beake +44 20 8483 6428
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