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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Liberty Global plc    LBTYA   GB00B8W67662

LIBERTY GLOBAL PLC

(LBTYA)
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Sunrise shareholder Canada Pension Plan Investment Board backs $2.8 billion capital hike

10/15/2019 | 04:28pm EST
FILE PHOTO: Logos of Swiss telecom company Sunrise and  broadband and telecommunications provider UPC Schweiz are seen in Zurich

ZURICH (Reuters) - Sunrise Communications has won support from one of its largest shareholders for its $2.8 billion capital hike - the latest twist in the telecom company's battle to buy Liberty Global's Swiss business.

Canada Pension Plan Investment Board, Sunrise's third biggest investor with a 5% stake according to Refinitiv data, said it will support the fundraising launched to back the 6.3 billion Swiss francs purchase.

Sunrise wants to raise 2.8 billion Swiss francs ($2.8 billion) to finance the purchase of cable operator UPC, but the plan has run into opposition from investors who have said it is overpaying and were concerned Liberty Global was not taking part in the deal.

Sunrise shareholders will vote on the capital increase on Oct. 23, with a Reuters survey showing at least 30% of Sunrise shares, including German group Freenet, against the capital hike..

Proxy adviser ISS has recommended shareholders vote against the rights issue. Other proxy advisors Glass Lewis, Ethos, and zRating have recommended Sunrise shareowners approve the capital increase which would pave the way for Switzerland's biggest telecoms deal.

Liberty Global on Monday offered to buy up to 500 million Swiss francs ($502.11 million) in newly created Sunrise Communications shares - a move aimed at winning shareholder support for the deal. [L5N26Z0LO]

($1 = 0.9988 Swiss francs)

(Reporting by John Revill, Editing by Franklin Paul)


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. 9.91% 27.46 Delayed Quote.61.25%
DEERE & COMPANY -0.37% 304.255 Delayed Quote.13.43%
FREENET AG -0.54% 17.35 Delayed Quote.1.42%
ISS A/S 0.34% 101.9 Delayed Quote.-3.56%
LIBERTY GLOBAL PLC 0.72% 25.34 Delayed Quote.3.80%
SUNRISE COMMUNICATIONS GROUP AG -0.09% 110 Delayed Quote.-0.09%
SWISS RE LTD -1.13% 80.4 Delayed Quote.-2.40%
SWISSCOM AG 1.73% 477.5 Delayed Quote.-1.61%
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Financials (USD)
Sales 2020 11 786 M - -
Net income 2020 -271 M - -
Net Debt 2020 23 891 M - -
P/E ratio 2020 -37,8x
Yield 2020 -
Capitalization 14 520 M 14 520 M -
EV / Sales 2020 3,26x
EV / Sales 2021 2,67x
Nbr of Employees 20 200
Free-Float 93,2%
Chart LIBERTY GLOBAL PLC
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Technical analysis trends LIBERTY GLOBAL PLC
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 19
Average target price 33,97 $
Last Close Price 25,14 $
Spread / Highest target 123%
Spread / Average Target 35,1%
Spread / Lowest Target -12,5%
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Managers and Directors
NameTitle
Michael Thomas Fries President, Chief Executive Officer & Director
John C. Malone Chairman
Charles Henry Rowland Bracken Chief Financial Officer & Executive Vice President
Enrique Rodríguez Chief Technology Officer & Executive VP
Paul Alan Gould Independent Director
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