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Liberty Global To Launch Tender Offer For Sunrise Communications On Sept 11

Liberty Global (LBTYA, LBTYB and LBTYK) said that it expects to launch a tender offer for Sunrise Communications Group on September 11, 2020, following completion of a ten SIX Swiss Exchange trading-day cooling-off period. The tender offer is scheduled to expire on October 8, 2020.

Liberty Global has published the offer prospectus for the Sunrise tender offer.

Earlier this month, Liberty Global said that it agreed to make an all cash public tender offer for all publicly held shares of Sunrise Communications Group AG at a price of 110 per share Swiss francs. The offer values 100% of Sunrise's equity at 5.0 billion francs, representing a total enterprise value of 6.8 billion francs.

Sunrise's board has recommended that its shareholders accept the offer. freenet AG, Sunrise's largest shareholder, which holds about 24% of Sunrise's share capital, has signed a binding, unconditional commitment to tender its shares at the offer price.

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