ZURICH (Reuters) - Sunrise Communications SRCG.S said it won a case in a Zurich court over rival Salt Mobile, which is trying to block telecom giant Liberty Global's LBTYA.O proposed $7.4 billion takeover of Sunrise.
Salt Mobile, owned by French billionaire Xavier Niel, says the deal violates terms of a now-paused joint venture that Salt and Sunrise announced in May.
“After an oral hearing took place on Monday, 14 September 2020, the court did not find a breach of the exclusivity agreement and consequently rejected Salt’s application,” Sunrise said on Thursday, noting the decision of the Commercial Court was subject to appeal with the Federal Supreme Court.
Salt had sought an injunction blocking major Sunrise shareholder Freenet FNTGn.DE and Sunrise directors and executives from tendering their shares in the Liberty offer.
Separately, Salt said this month it won a U.S. court’s permission to serve subpoenas on Liberty Global Chairman John Malone and Chief Executive Michael Fries in the dispute.
Reporting by Michael Shields; editing by Brenna Hughes Neghaiwi
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