CVC Capital Partners has completed the CHF3.3bn acquisition of Sunrise Communications from TDC.
This follows clearance of the transaction from the Swiss Competition Commission, the Federal Office of Communications and the Federal Communications Commission ComCom in Switzerland this week.
Sunrise is the largest privately owned telecommunication company in Switzerland.
Oliver Steil, Sunrise chief executive, says: “With this deal CVC shows its commitment to a predefined business and investment-plan that includes substantial investments in Swiss ICT-Infrastructure in the next five years. I am looking forward to working with CVC.”
Lorne Somerville, partner at CVC, adds: “We are pleased to have completed this transaction. Sunrise is a fantastic company with a strong brand and a world class network. CVC brings a track record of developing its companies over the long-term and a commitment to continue investing to ensure that Sunrise becomes even better in the future.”