Liberty Global has completed its acquisition of Sunrise Communications in a deal worth 6.8 billion Swiss francs.
Liberty Global now holds more than 98 per cent of the share capital of Sunrise and will initiate what it calls a squeeze-out according to the Swiss Financial Market Infrastructure Act.
The company said it plans to have the Sunrise shares delisted from the SIX Swiss Exchange upon completion of the squeeze-out, which would make Sunrise a wholly-owned subsidiary within the Liberty Global group.
Sunrise is expected to continue to operate independently until its integration is completed in early 2021.
Together, the two companies will reach 1.3 million TV subscribers, reflecting approximately 30 per cent market share, Liberty Global said when first announcing its intentions in July of this year.