Private equity fund CVC Capital Partners is preparing to sell its Swiss telecoms venture Sunrise, which offers wireless and fixed telephony, IPTV, and broadband services. According to Reuters, which cites four people familiar with the development, CVC has begun discussions with a number of banks over a possible listing of Sunrise. CVC purchased the operator in 2010 from TDC, after the latter failed to secure regulatory permission to merge the unit with Orange Group’s local subsidiary Orange Switzerland, which was itself sold off by the French group to private equity firm Apax Partners in February 2012.
According to TeleGeography’s GlobalComms Database, Sunrise is the second largest provider by subscribers in the wireless market, with a 23.7% share of the segment, and is placed third in the broadband sector with a share of around 10.8%. Both markets are dominated by state-backed fixed line incumbent Swisscom, which represents more than half of both sectors.