Stop the world, I want to get out" was a successful book years ago. to Sunrise's planned purchase of UPC, which is now becoming a soap opera.
From Sunrise's statement early Tuesday morning : "Based on clear indications from shareholders and Freenet's announcement that it will vote against the capital increase at the Extraordinary General Meeting (EGM), Sunrise's Board of Directors has concluded that the clear majority of shareholders who registered their shares to vote at the AGM mexico rcs data do not support the capital increase. At the same time, the Board of Directors concludes that the motions to remove Peter Kurer and Jens Jesper Ovesen will be rejected by a majority of shareholders who registered their shares to vote at the AGM."
The headwind, it is now clear, was too great. It was not just in Hamburg, at Freenet, that the deal could not be accepted; countless shareholders could not support the plan for 6.3 billion. It is not Roche or Nestlé buying for the whole world with the money they have, but a small telco company taking on billions in debt in order to increase its presence in the small and multilingual Swiss market. And it is buying questionable technology.