Denmark’s TDC sells Swiss mobile operator Sunrise to private equity group CVC for $3.2 billion

Denmark’s TDC sells Swiss subsidiary for $3.2B

GENEVA — Danish telecoms company TDC says it will sell its Swiss subsidiary Sunrise to the British private equity group CVC Capital Partners for 3.3 billion Swiss francs ($3.24 billion).

Switzerland’s second-biggest mobile operator has 1.9 million customers in a country of some 7.6 million.

TDC and CVC said in a statement Friday that the sale is expected to be finalized in the fourth quarter pending approval by Swiss regulators.

The deal comes after the Swiss Competition Commission in April rejected a merger of Sunrise with France Telecom’s subsidiary Orange.

The regulator cited the risk that the combined company could dominate the Swiss market together with former state monopolist Swisscom.