Close
Close

Published

Unfamiliar roadblock for Liberty as Freenet vetoes Sunrise deal

Another twist in Liberty Global’s frantic few months occurred late last week, as German telco Freenet slapped a veto on the acquisition of UPC Switzerland by Swiss cableco Sunrise Communications, in which Freenet owns a 24.5% stake. It gives the impression that doing business with Liberty Global is the last thing on anyone’s mind right now, even at a what should be a more than tempting price. The intervention echoes the sentiments of Christoph Vilanek, the CEO of Freenet, having admitted to Reuters in October that Freenet was open to offers for its Sunrise stake, valued at the time at around $1 billion, but he was firmly against any deal with Liberty Global. That price tag would bring Freenet a…

Close