Liberty Global Completes Sunrise Spin-Off

Shares in Swiss operator Sunrise will begin public trading later this week. This was made possible after parent company Liberty Global completed the spin-off of the business.

Liberty Global announced the Swiss operator had been separated into a standalone entity ahead of having its shares relisted for public trading. The holding delisted Sunrise when it acquired the mobile operator in 2020. It then merged the business with its existing fixed operation UPC Switzerland.

Discussing the spin-off of its Swiss communications business, Liberty Global CEO Mike Fries highlighted it represented an important milestone in the ongoing strategy to unlock value for shareholders. “Under the leadership of its experienced management team, Sunrise is well-positioned to continue to deliver innovative solutions and superior connectivity to Swiss consumers and businesses,” he added.

Liberty Global shareholders will be distributed Sunrise American Depository Shares (ADS), with ADS trading commencing on Wednesday in New York. Trading in direct shares kicks off on Friday on the SIX Swiss Exchange in Zurich.