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Liberty Global (NASDAQ:LBTYA) has evaluated selling a stake in Swiss telecom operator Sunrise ahead of a planned spin-off later this year.
Conversations have occurred with investors including the Swiss family office on the topic, according to a Reuters report on Friday, which cited people familiar with the matter.
The report comes after Liberty Global (LBTYA) disclosed in February its intention to spin off mobile network operator Sunrise and list it as a separate entity on the SIX Swiss Exchange with two classes of shares.
Any transaction could value Sunrise at an enterprise value of CHF8 billion to CHF9 billion ($8.91 billion), according to the report. Liberty Global (LBTYA) completed its acquisition of Sunrise in 2020.
Liberty Global (LBTYA) has said it will invest up to CHF1.5 billion ($1.7 billion) for debt reduction in Sunrise. The listing of Sunrise on the SIX Swiss Exchange is planned for 2H24.