Liberty Global Announces Provisional Interim Results of Sunrise Communications Group Tender Offer

Liberty Global (Nasdaq: LBTYA, LBTYB and LBTYK) announced today the provisional interim results for the all cash, public tender offer of UPC Schweiz GmbH (a subsidiary of Liberty Global) to acquire all publicly held shares of Sunrise Communications Group AG (SIX Swiss Exchange: SRCG). Based on preliminary numbers, 37,107,859 Sunrise shares have been tendered as of the end of the main offer period, corresponding to 81.98% of the fully diluted share capital of Sunrise.

Subject to confirmation in the definitive notice of the interim results scheduled for October 14, 2020, the minimum acceptance offer condition, being the valid tender of two-thirds of the fully diluted share capital of Sunrise, has been met. The additional acceptance period for the offer will start on October 15, 2020, and is expected to last until October 28, 2020, at 4 p.m. Swiss time.

Completion of the tender offer is subject to other conditions, including regulatory approvals. After the settlement of the offer, Liberty Global intends to initiate a squeeze-out procedure and delist Sunrise shares from trading on the SIX Swiss Exchange. Sunrise is therefore expected to become a wholly-owned subsidiary within the Liberty Global group of companies. Certain Sunrise shareholders who do not tender may face negative tax consequences if the squeeze-out has to be conducted via a merger.

The indicative timetable for the closing of the offer is as follows:

Wednesday, October 14, 2020	Definitive notice of the interim results of the offer
Thursday, October 15, 2020	Start of the additional acceptance period
Wednesday, October 28, 2020	End of the additional acceptance period (4 p.m. Swiss time)
Thursday, October 29, 2020	Provisional notice of the end results of the offer
Tuesday, November 3, 2020	Definitive notice of the end results of the offer
Wednesday, November 11, 2020 (expected)	Settlement of the offer (subject to satisfaction of remaining offer conditions, including regulatory approvals)

ABOUT LIBERTY GLOBAL

Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is one of the world’s leading converged video, broadband and communications companies, with operations in 6 European countries under the consumer brands Virgin Media, Telenet and UPC. We invest in the infrastructure and digital platforms that empower our customers to make the most of the digital revolution.