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Freenet : Proxy Advisory Firm ISS Rejects Proposed Acquisition Of UPC By Sunrise

freenet AG (FRAGF.PK) said Friday that it welcomed the recommendation from an independent proxy advisory firm Institutional Shareholder Services or "ISS" that shareholders should vote against the proposed capital increase and the acquisition of UPC Switzerland by Sunrise Communication Group AG.

freenet said it is pleased that ISS as an independent body agreed with the views freenet has expressed about the proposed acquisition, which freenet believes would result in significant value destruction for all existing Sunrise shareholders.

Sunrise shareholders should reject the proposed deal at the EGM on 23 October 2019, freenet said in a statement.

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