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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Liberty Global PLC    LBTYA   GB00B8W67662

LIBERTY GLOBAL PLC

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Axxion seeks ouster of Sunrise chairman, board member amid takeover fight

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09/10/2019 | 02:12am EDT
FILE PHOTO: Peter Kurer, Chairman of Swiss telecom company Sunrise, addresses the annual shareholder meeting in Zurich

ZURICH (Reuters) - Sunrise Communications faces calls for its chairman and another board member to be removed, it said on Tuesday, as the Swiss telecommunications company fights to save its planned $6.4 billion takeover of Liberty Global's Swiss assets.

Funds group Axxion requested the removal of Chairman Peter Kurer and board member Jesper Ovesen be put on the agenda of the upcoming extraordinary general shareholders meeting, whose date still must be set. Sunrise said it would review Axxion's proposal.

Top Sunrise shareholder Freenet and at least two other big investors are opposed to the 6.3 billion Swiss franc (5.15 billion pounds) takeover proposal to buy Liberty Global's UPC Switzerland unit, which includes a plan to issue new shares to help fund the deal.

(Reporting by John Miller, editing by John Revill)

Stocks mentioned in the article
ChangeLast1st jan.
AXXION SA End-of-day quote.
FREENET GROUP 0.48% 18.775 Delayed Quote.10.80%
LIBERTY GLOBAL PLC 0.42% 28.39 Delayed Quote.33.04%
SKANDINAVISKA ENSKILDA BANKEN AB 0.86% 91.04 Delayed Quote.4.83%
SUNRISE COMMUNICATIONS GROUP -0.26% 76.55 Delayed Quote.-11.22%
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Managers
NameTitle
Michael Thomas Fries Vice Chairman, President & Chief Executive Officer
John C. Malone Chairman
Joost Baptiest P. Coopmans Senior Vice President-Operations
Charles Henry Rowland Bracken Chief Financial Officer & Executive Vice President
Enrique Rodríguez Chief Technology Officer & Executive VP
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