August 22, 2019 / 5:26 AM / 2 months ago

CORRECTED-Swiss telco Sunrise sees higher integration costs for UPC deal

(Corrects to say “Swiss”, not “German”, in headline and first paragraph)

Aug 22 (Reuters) - Swiss telecoms group Sunrise Communications Group AG said on Thursday it expected higher one-off integration costs as it aimed to achieve bigger synergies from its pending acquisition of cable operator UPC Switzerland.

The company said it now expected the total annual synergy run rate of 280 million Swiss francs ($285.07 million), compared to the 235 million Swiss francs it had guided earlier.

Run rate is the full-year impact of something that has only occurred over a shorter period.

In order to achieve the higher synergies, one-off integration costs are expected to increase about 60% to 230-250 million francs, Sunrise said. ($1 = 0.9822 Swiss francs) (Reporting by Zuzanna Szymanska in Gdynia; Editing by Rashmi Aich)

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