Sunrise, a telecoms company, has successfully returned to the SIX Swiss Exchange after being delisted in 2021 due to its acquisition by Liberty Global. Trading commenced at 44.75 Swiss francs, valuing the company at approximately 3.29 billion francs, making it one of the largest IPOs of the year. CEO André Krause emphasized the company's focus on growth and a progressive dividend policy, with Liberty Global retaining a significant stake in Sunrise.
Liberty Media Corp. CEO Greg Maffei will step down at the end of the year after nearly 20 years of significant dealmaking. Under his leadership, the company acquired and invested in notable businesses such as the Atlanta Braves, DirecTV, SiriusXM, Live Nation Entertainment, and Formula 1. Maffei, 64, was seen as a potential successor to John Malone, the 83-year-old chairman and a pioneer in the cable-TV industry.
Sunrise is set to go public this week, first on the Nasdaq in New York and then on the Six Swiss Exchange. The Swiss telecom provider is estimated to be valued between CHF 3 to 4.5 billion, with shares averaging around 45 francs, while Liberty Global introduces A and B shares, granting significant voting power to its executives. For customers, the IPO is unlikely to bring significant changes, as Sunrise and Swisscom maintain a stable market presence without a price war.
Comcast is considering spinning off NBCUniversal’s cable networks, which include channels like Bravo and MSNBC, to focus on its streaming service, Peacock. This move could reshape the media landscape and attract investor interest by shedding declining assets. The potential separation may also pave the way for broader industry consolidation, as companies look to capitalize on changing media dynamics.
Sunrise is set to return to the Swiss stock exchange on November 15, aiming for a high dividend payout while managing a significant debt load. CEO André Krause emphasizes the company's growth potential and competitive edge over Swisscom, despite challenges in a stagnating market. Liberty Global's influence remains a point of contention, but Sunrise plans to utilize strong free cash flow for dividends and debt reduction.
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