Freenet says to vote against Sunrise capital hike for UPC deal


FRANKFURT (Reuters) – Freenet AG (FNTGn.DE) said on Friday it would vote against a proposed 4.1 billion franc ($4.19 billion) capital hike at Sunrise Communications (SRCG.S) to fund a takeover bid for Liberty Global’s (LBTYA.O) 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



The put upFreenet says to vote against Sunrise capital hike for UPC dealappeared first on Reuters

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