Brief: Liberty Global Announces Intention To Spin-Off 100% Of Sunrise To Shareholders

Liberty Global

16/02/2024 17:49

Feb 16 (Reuters) - Liberty Global Ltd  LBTYA.O :
    * LIBERTY GLOBAL ANNOUNCES INTENTION TO SPIN-OFF 100% OF
SUNRISE
TO SHAREHOLDERS
    * LIBERTY GLOBAL WILL INVEST UP TO CHF1.5B ($1.7B(1)) FOR
DEBT
REDUCTION
    * SUNRISE WILL BE LISTED ON SIX SWISS EXCHANGE WITH TWO
CLASSES OF
SHARES
    * SUNRISE WILL BE LISTED ON SIX SWISS EXCHANGE WITH TWO
CLASSES OF
SHARES
    * OPERATIONAL BUSINESS WILL NOT BE AFFECTED BY SPIN-OFF
    * INVESTMENT WILL BE FUNDED THROUGH SUNRISE FCF GENERATION
AND
LIBERTY GLOBAL CORPORATE LIQUIDITY
    * LISTING OF SUNRISE ON SIX SWISS EXCHANGE IS PLANNED FOR
2H24
    * AFTER SPIN-OFF, CO WILL RETAIN CONSOLIDATED INTERESTS IN
TELENET, VIRGIN MEDIA IRELAND, JV STAKES IN VIRGIN MEDIA-O2 AND
VODAFONEZIGGO

Source text for Eikon:  ID:nBw83Nxr9a 
Further company coverage:  LBTYA.O 

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