![UPDATE 6-Investor revolt torpedoes Swiss Sunrise's $6.4 bln Liberty Global deal]( "UPDATE 6-Investor revolt torpedoes Swiss Sunrise's $6.4 bln Liberty Global deal")
Sunrise Communications Group bowed to investor pressure on Tuesday and scrapped its 6.3 billion Swiss franc ($6.39 billion) acquisition of Liberty Global’s Swiss cable business UPC. The number two Swiss telecommunications group had battled to save the deal in the face of opposition from its biggest shareholder, Germany’s Freenet, which holds 25% of its stock, and activist investors including Axxion and AOC.
