September 10, 2019 / 1:52 PM / 8 days ago

Activist investor AOC gets Sunrise Communications stake: source

ZURICH/FRANKFURT (Reuters) - German activist investor AOC has built a stake of less than 3% in Swiss telecoms group Sunrise Communications (SRCG.S), a source familiar with the situation told Reuters on Tuesday.

The source said AOC was likely to oppose Sunrise’s proposed 6.3 billion Swiss franc ($6.36 billion) takeover of Liberty Global’s (LBTYA.O) Swiss UPC business, which already faces a revolt with at least two big investors joining top Sunrise shareholder Freenet (FNTGn.DE) in resisting the deal.

Reporting by Oliver Hirt and Arno Schuetze; Editing by Michael Shields

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