ZURICH (Reuters) - Liberty Global (LBTYA.O) has ended talks over combining its UPC Switzerland unit with Sunrise Communications (SRCG.S), the U.S.-based cable company said, putting to rest hopes that the 6.3 billion Swiss franc ($6.32 billion) deal could be revived.
“We wish Sunrise well but we are moving on. Despite our willingness to show significant flexibility on terms, it’s
clear to us that the Sunrise Board of Directors and their largest shareholder cannot agree amongst themselves on the best path forward,” said Liberty Global Chief Executive Mike Fries, who described the decision as an effort to “close that door.”
Reporting by John Miller; Editing by Michael Shields