June 3, 2019 / 5:21 AM / 3 months ago

Sunrise takeover of Liberty Global unit under review by competition authorities

Swiss telecom company Sunrise's logo is seen at an office building in Zurich, Switzerland February 28, 2019. REUTERS/Arnd Wiegmann

ZURICH (Reuters) - Sunrise Communications on Monday said the Swiss competition authorities have decided to “examine in detail” its planned $6.3 billion takeover of Liberty Global’s Swiss UPC cable business.

Sunrise said they expected the review, adding it expected the deal to be approved, saying “the takeover of UPC Switzerland will intensify competition in the telecommunications market.”

Sunrise said it expected a decision by the beginning of October 2019 at the latest and anticipated completing the deal in the fourth quarter.

Reporting by John Revill, editing by Riha, Alkousaa

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