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
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