Liberty Global Swiss deal heading for rejection - report

|About: Liberty Global Plc (LBTYA)|By:, SA News Editor

Headlines are buffeting Liberty Global's (LBTYA +0.4%) planned multibillion-dollar sale of its Swiss cable operation.

The latest is a report in Switzerland's The Market, saying that a majority of voting investors in Sunrise Communications are set to reject a capital increase to fund the acquisition of Liberty's UPC Switzerland, which has an enterprise value of about $6.4B.

Active Ownership Capital joined dissenters yesterday, a group that also includes Freenet, Axxion and Shareholder Value Management among others.

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