September 27, 2019 / 2:18 PM / 20 days ago

Sunrise could slash size of rights issue to fund UPC deal - sources

ZURICH, Sept 27 (Reuters) - Sunrise Communications could slash the size of its planned 4.1 billion Swiss franc ($4.13 billion) rights issue to finance its purchase of Liberty Global’s Swiss UPC business, four people close to the situation told Reuters.

The Swiss group has been discussing with investors how it could reduce the amount of new equity it would issue to fund the 6.3 billion franc deal, thus breaking down resistance to the transaction by its biggest shareholder, Freenet.

The preferred version would reduce the equity part to around 3 billion francs or even less, the people said. (Reporting by Angelika Gruber, writing by Michael Shields, editing by John Miller)

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