Sunrise buys Liberty Global's Swiss business in $6.29 billion deal

- Sunrise Communications Group AG has agreed to buy Liberty Global PLC’s Swiss business UPC Switzerland in a 6.3 billion Swiss francs deal, the mobile phone and internet services company said on Wednesday.

The purchase strengthens Sunrise’s position as Switzerland’s second largest telecoms company, and is another European sale by Liberty Global which divested its Austrian business to T-Mobile Austria last year. Analysts have said a tie-up makes sense, given that Sunrise and UPC’s fixed and mobile services would make the combined entity a stronger rival to the dominance of state-controlled Swisscom.

Liberty Global, set up by U.S. cable pioneer John Malone, has been selling off its assets in the last year. The U.S. listed company is also awaiting European Union approval for its sale of its assets in Germany and eastern Europe to Vodafone for $21.8 billion.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GE shares surge 13% after Danaher agrees to buy biopharma business for $21.4 billionGE is selling its biopharma unit for $21.4 billion to Danaher, saying it will use the money to reduce leverage and strengthen its balance sheet. I have some old meds will sell to GE for 1/10 the price Will GE make a profit on this deal? What did they originally buy the biopharma assets for?
Source: CNBC - 🏆 12. / 72 Read more »

GE's stock soars after deal to sell biopharma business to Danaher for $21.4 billionShares of General Electric Co. shot 8.8% in premarket trade Monday, after the industrial conglomerate agreed to sell its biopharma business to Danaher Corp. for $21.4 billion in cash. "Today's transaction is a pivotal milestone," said GE Chief Executive Lawrence Culp. "It demonstrates that we are executing on our strategy by taking thoughtful and deliberate action to reduce leverage and strengthen our balance sheet." Culp had served as CEO of Danaher from 2001 to 2014. Danaher said it expects to finance the deal with $3 billion from an equity offering, cash on hand and the issuance of debt. Danaher expects the deal, which is expected to close in the fourth quarter of 2019, to reduce net earnings by share by $1.15 to $1.20 in the first full year, but add to adjusted EPS by about 45 cents to 50 cents. GE's stock has soared 34.4% over the past three months through Friday, while Danaher shares have climbed 10.8% and the Dow Jones Industrial Average has gained 7.2%.
Source: MarketWatch - 🏆 3. / 97 Read more »

Why the CEO of this global family business refuses to take his dad's adviceRoger Lee is the third generation to run his family-owned business, TAL Group — one of the world's largest fashion manufacturers. MakeIt Ask him to have a word with his bank manager, much better. lol
Source: CNBC - 🏆 12. / 72 Read more »

GE to Sell BioPharma Business to Danaher for $21.4 BillionGeneral Electric to sell biopharma unit to Danaher for $21.4 billion, part of a strategy to reduce leverage and boost its balance sheet Excellent Wow
Source: WSJ - 🏆 98. / 63 Read more »

Oscar Loser Wins Big Next Day With $21.4 Billion Acquisition Of GE’s Biopharma BusinessBillionaire Steven Rales walked away empty handed from Sunday night’s Academy Awards ceremony—but won big today with a $21.4 billion acquisition of GE’s biopharma business by DenizCam DenizCam True. Keep up your mission supporting crypto! I share the same mindset in promoting the cryptoverse myself! This is why crypto will have a future! DenizCam Ohhh So was he needy Oscars2019 Oscar comercial ART
Source: Forbes - 🏆 394. / 53 Read more »

Oscar Loser Wins Big Next Day With $21.4 Billion Acquisition Of GE’s Biopharma BusinessSteven and Mitchell Rales cofounded Danaher in 1983. On Monday morning, the science and technology giant said it will acquire General Electric’s biopharma business. Looks like a nerd (because he’s wearing glasses)
Source: Forbes - 🏆 394. / 53 Read more »