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BRIEF-Sunrise Communications Group enters into definitive agreement with consortium led by Cellnex Telecom S.A.
May 24, 2017 / 5:41 AM / 2 months ago

BRIEF-Sunrise Communications Group enters into definitive agreement with consortium led by Cellnex Telecom S.A.

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May 24 (Reuters) - SUNRISE COMMUNICATIONS GROUP AG:

* ENTERS INTO A STRATEGIC PARTNERSHIP WITH A CONSORTIUM LED BY CELLNEX, STRENGTHENING NETWORK

* SALE OF SWISS TOWERS AG, WHICH OWNS 2,239 TELECOM TOWERS, FOR CHF500 MILLION

* STEP UP IN 2017 DIVIDEND TO CHF3.9-4.10 PER SHARE; NEW DIVIDEND POLICY TO REFLECT STRONGER FINANCIAL PROFILE

* SUBJECT TO COMPLETION OF TRANSACTION, 2017 GUIDANCE HAS BEEN UPDATED TO REFLECT FINANCIAL IMPACT OF TRANSACTION

* 2017 REVENUE GUIDANCE IS UNCHANGED AT CHF1,820 MILLION TO CHF1,860 MILLION. 2017 ADJUSTED EBITDA IS NOW EXPECTED TO BE BETWEEN CHF577 MILLION AND CHF592 MILLION

* SUNRISE COMMUNICATIONS GROUP - CAPEX GUIDANCE FOR 2017 IS NOW BETWEEN CHF255 MILLION AND CHF295 MILLION, NORMALIZED CAPEX EXCLUDING ONE-OFF INCREASE IN 2017 BETWEEN CHF225 MILLION AND CHF265 MILLION Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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