Liberty Global plc (NASDAQ: LBTYA, LBTYB and LBTYK) has terminated discussions regarding the combination of UPC Switzerland and Sunrise Communications, the company said .
Liberty Global and Sunrise announced a binding agreement on February 27, 2019 and the combination received unconditional regulatory approval in September. However, in October, Sunrise cancelled its extraordinary general meeting (EGM), with approval from Liberty Global, due to a dispute with its largest shareholder and the Share Purchase Agreement providing for the transaction was terminated in November.
After payment to Liberty Global of a CHF 50 million break fee, negotiations continued up until this announcement.
Liberty Global is one of the world´s converged video, broadband and communications companies, with operations in six European countries under the consumer brands Virgin Media, Telenet and UPC. For more information, visit www.libertyglobal.com.