Liberty Global publishes offer prospectus for Sunrise Communications

Liberty Global Publishes Offer Prospectus for Sunrise Communications Group Tender Offer

DENVER, Colorado — Liberty Global (Nasdaq: LBTYA, LBTYB and LBTYK) announced today that UPC Schweiz GmbH, a subsidiary of Liberty Global, is publishing the Offer Prospectus for the previously announced all cash public tender offer for all publicly held shares of Sunrise Communications Group AG (SIX Swiss Exchange: SRCG) at a price of CHF110 per share.

The tender offer is expected to launch on September 11, 2020, following the completion of a ten SIX Swiss Exchange trading-day cooling-off period under Swiss takeover law, and is scheduled to expire at 10:00 a.m. Eastern Standard Time (4:00 p.m. Central European Summer Time) on October 8, 2020. After this period (and subject to extensions) and if the minimum acceptance threshold of the valid tender of two-thirds of all Sunrise shares on a fully diluted basis is reached or waived, there will be an additional acceptance period of ten SIX Swiss Exchange trading days. The offer by Liberty Global’s subsidiary, UPC Schweiz GmbH, is also conditioned on other customary offer conditions, including regulatory approvals.

Sunrise’s Board of Directors has unanimously recommended that its shareholders accept the offer. freenet AG, Sunrise’s largest shareholder, which holds approximately 24% of Sunrise’s share capital, has signed a binding, unconditional commitment to tender its shares at the offer price.