Freenet SFr800 million acquisition of 24.56% of Sunrise Communications Group

Overview:

• Freenet, a German mobile communications company, has acquired a minority stake in the Sunrise Communications Group, a public Swiss mobile group, for SFr800 million from CVC Capital Partners.
• The deal was structured in two phases, with the initial purchase of a 23.83% stake in the company followed by the subsequent acquisition of an additional 0.73% of the share capital of Sunrise, bringing the total share held by Freenet to 24.56% making it the largest shareholder in the group.

Rani Mehta - Journalist