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Freenet buys 24% in Swiss operator Sunrise

2016-03-18 08:16:00| Telecompaper Headlines

(Telecompaper) German operator Freenet is continuing its expansion through takeovers with the purchase of a 23.83 percent stake in the Swiss operator Sunrise. Freenet said it agreed to pay EUR 714 million for the shares from CVC Capital and will buy another 0.73 percent in the company next month. Both Freenet's CEO, Christoph Vilanek and its CFO, Joachim Preisig will have a seat on Sunrise's board of directors. Freenet said it's been studying Sunrise for some time and sees similarities in its business model to the German operator, in terms of cash orientation and the financial profile. 

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Category:Telecommunications

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