The British-American communications and broadband giant Liberty Global has practically completed its takeover of the second-largest Swiss telecommunications provider Sunrise. He now owned more than 98 percent of Sunrise shares, the company announced on Thursday night in Denver, USA. It had submitted its offer to buy in August. Sunrise shareholders will receive five billion Swiss francs (4.6 billion euros).

Start of takeover 2021 completed Sunrise is to be merged with the cable network operator UPC, which also belongs to Liberty Global, at the beginning of next year. The new company should compete with the number one, Swisscom, more intensely. Sunrise and UPC Switzerland together have a turnover of 3.1 billion francs, 2.1 million mobile phone subscribers, 1.2 million broadband customers and 1.3 million TV subscribers. The market share in each area is around 30 percent.

The Federal Competition Commission (WEKO) only gave the green light for the planned one in October Fusion. She sees no risk of a dominant position and expects more competition.

(cbo)