BUEDELSDORF (dpa-AFX) - freenet AG (FRAGF.PK) said it has decided to vote against the proposed capital increase of Sunrise. The proposed capital increase is in relation to the acquisition of UPC Switzerland. freenet said the current terms of the deal are unbalanced and unfavorable for all Sunrise shareholders. freenet believes there is a potential for significant re-rating of the Sunrise share price on a standalone basis.
Sunrise is expected to seek approval from its shareholders for the rights issue at an Extraordinary General Meeting in the second half of 2019.
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