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Sunrise in talks with UPC Schweiz
Posted on Wednesday, 06 February 2019 14:37
Following media speculation regarding a possible deal, Sunrise Communications has confirmed it is in negotiations to buy Swiss-based broadband provider UPC Schweiz from Liberty Global. Reuters picked up a report by the Financial Times on 1st February, which noted that the two companies were in advanced discussions. Sunrise stated that no timeframe or terms of any potential combination have been set, and there is no guarantee of any deal taking place. The company did confirm however, that should a purchase occur, it would retain its existing progressive shareholder distribution policy. Headquartered in Wallisellen, UPC Schweiz claims to be one of the leading telecommunications and media providers in Switzerland. It has over 1,500 employees and serves more than 2.00 million households across the country through its broadband, television and phone subscriptions. For the quarter ended 30th September 2018, UPC Schweiz posted revenue of CHF 318.00 million (USD 318.09 million), down from CHF 339.20 million in the corresponding period of 2017. Notable transactions for the company include its purchase of the remaining 51 per cent stake it did not already own in cable network operator TeleOnex in January 2017 for an undisclosed sum. Sunrise claims to be the largest non-state-controlled telecommunications business in Switzerland, with sites in Basel, Bern, Prilly, Geneva and Lugano. Its products include Sunrise Digital, a smart, high definition, digital television platform which has over 270 channels, as well as its mobile, landline and internet services. For the nine months ended 30th September 2018, the company posted revenue of CHF 1.39 billion, a 3.4 per cent increase on CHF 1.35 billion from the same period of the previous year. According to Zephyr, the M&A database published by Bureau van Dijk, there were 95 deals targeting cable and other subscription programming operators announced worldwide in 2018. In the largest of these, Comcast agreed to buy UK-based Sky for GBP 36.63 billion. Other companies targeted in this sector last year include, United Group, Com Hem Holding, Cable Onda, CITIC Networks and Dish TV India. © Zephus Ltd