September 10, 2019 / 1:53 PM / 10 days ago

RPT-Activist investor AOC gets Sunrise Communications stake - source

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ZURICH/FRANKFURT, Sept 10 (Reuters) - German activist investor AOC has built a stake of less than 3% in Swiss telecoms group Sunrise Communications, a source familiar with the situation told Reuters on Tuesday.

The source said AOC was likely to oppose Sunrise’s proposed 6.3 billion Swiss franc ($6.36 billion) takeover of Liberty Global’s Swiss UPC business, which already faces a revolt with at least two big investors joining top Sunrise shareholder Freenet in resisting the deal.

$1 = 0.9907 Swiss francs Reporting by Oliver Hirt and Arno Schuetze; Editing by Michael Shields

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