Swiss Competition Commission approves takeover of Sunrise by Liberty Global
Following a one month Phase I examination, the Swiss Competition Commission has approved the planned takeover of Sunrise Communications Group AG by UPC Schweiz GmbH, a fully owned subsidiary of Liberty Global plc. The approval was granted without any conditions or obligations being imposed. With the approval by the Swiss Competition Commission, the parties have overcome another important hurdle towards the settlement of the public tender offer, which was pre-announced on August 12, 2020.
Lenz & Staehelin is advising Sunrise in this transformational transaction. Lenz & Staehelin's competition team includes partner Astrid Waser (Regulatory/Antitrust) as well as associates Sandro Travaglini, Damian Joho and Patrick Sattler. The transaction team includes partners Hans-Jakob Diem and Tino Gaberthüel (both Corporate), Patrick Schleiffer (Capital Markets), as well as associates Simone Ehrsam, Lukas Held, Ann Weibel and Federico Trabaldo Togna (all Corporate), and Patrick Schärli (Capital Markets).