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MarketScreener Homepage  >  Equities  >  Xetra  >  Freenet Group    FNTN   DE000A0Z2ZZ5

FREENET GROUP

(FNTN)
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Freenet still rejects Sunrise deal despite Liberty Global offer

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10/14/2019 | 04:46am EST

ZURICH (Reuters) - Freenet still opposes Sunrise's 6.3 billion Swiss franc ($6.32 billion) deal to buy Liberty Global's Swiss business, despite a new offer from the American seller to take part in the acquisition.

Liberty Global, set up by U.S. cable pioneer John Malone, said on Monday it has offered to buy up to 500 million Swiss francs in newly created Sunrise shares to help finance the purchase.

But Freenet, which holds nearly a quarter of the stock in Sunrise, said it still opposed the deal which it said is too expensive.

Investors are due to vote on Oct. 23 on a 2.8 billion franc capital hike to help fund the purchase.

"The participation of Liberty Global changes nothing in our opinion or that of the majority of shareholders about the deal," Freenet said.

"We still think that it is not a good deal," it said. "Liberty Global has merely said it will participate at rock bottom prices with the money they will receive from a too expensive sale."

(Reporting by John Revill and Oliver Hirt; editing by Jason Neely)

Stocks mentioned in the article
ChangeLast1st jan.
FREENET GROUP -0.63% 20.56 Delayed Quote.21.33%
GCI LIBERTY, INC. 0.42% 69.89 Delayed Quote.69.80%
LIBERTY GLOBAL PLC 0.57% 22.21 Delayed Quote.4.08%
SUNRISE COMMUNICATIONS GROUP 0.00% 77.9 Delayed Quote.-9.89%
SWISSCOM -0.15% 517.4 Delayed Quote.10.16%
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Financials (EUR)
Sales 2019 2 900 M
EBIT 2019 277 M
Net income 2019 217 M
Debt 2019 1 877 M
Yield 2019 8,03%
P/E ratio 2019 11,6x
P/E ratio 2020 11,3x
EV / Sales2019 1,56x
EV / Sales2020 1,53x
Capitalization 2 633 M
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Technical analysis trends FREENET GROUP
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 15
Average target price 20,34  €
Last Close Price 20,56  €
Spread / Highest target 36,2%
Spread / Average Target -1,09%
Spread / Lowest Target -29,5%
EPS Revisions
Managers
NameTitle
Christoph Vilanek Chief Executive Officer
Helmut Thoma Chairman-Supervisory Board
Ingo Arnold Chief Financial Officer
Stephan A. Esch Chief Technology Officer
Claudia Anderleit Member-Supervisory Board
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