On 17 March 2016, freenet AG signed a contract for the acquisition of 24% in the Swiss telecommunications provider Sunrise Communications Group AG with CVC Capital Partners, at a price of CHF 72.95 per share.
Next month, freenet AG will acquire an additional stake of up to 330,183 shares or up to 0.73 per cent of the share capital in Sunrise. The transaction value amounts to approximately CHF800m. The transaction of the acquisition of 23.83 per cent was closed on 23 March 2016, the acquisition of the further participation will be closed in the short term.
freenet AG is the largest network-independent supplier of mobile communication services in Germany. Sunrise is listed on the SIX Swiss Exchange AG and is the largest private telecommunications provider in Switzerland with more than 3 million customers in the areas of mobile and landline telephony, internet and digital TV.
Bär & Karrer advised freenet AG in an integrated team together with Hengeler Mueller. The Bär & Karrer team is led by Dieter Dubs (M&A, Listed Companies) and Thomas Rohde (Regulatory, M&A) and comprises Daniel Lehmann (Tax), Sora Meyer and Christian Moser (M&A), Laura Widmer (Employment), Jonas Bornhauser (IP) and Fabienne Walter (M&A). The Hengeler Mueller team comprises the partners Dr. Albrecht Conrad (M&A, TMT), Dr. Stefan Richter (Corporate, M&A) (both Berlin), Dr. Alf-Henrik Bischke (Competition, Düsseldorf) and Dr. Nikolaus Vieten (Financing, Frankfurt) as well as associate Dr. Tim Schlösser (M&A, Berlin) and other associates.