The Swiss telecommunications Sunrise Communications on Wednesday advised its shareholders to settle for 110 Swiss francs per share accorded by Liberty Global. At the day’s end on Tuesday, the company’s shares traded at 85.25 francs.
All cash-offer accounted for a massive premium of thirty-two per cent premium to the average price (mean of the shares price of the Swiss telecommunication in the last 60 days).
As per the Liberty Global, Freenet that holds around twenty-four per cent stake in Sunrise has given its nod to the agreement. It will now offer its shares.