Liberty Global unveiled plans to spin-off Swiss mobile and fixed operator Sunrise, aiming to list shares in the entity during the second half of 2024.

In a stock market statement, the company indicated the move would provide the scope to widen Sunrise’s investor base and result in a structure able to support the operator’s specific priorities.

As part of its plan for the Swiss business, Liberty Global intends to invest CHF1.5 billion ($1.7 billion) in the unit to cut debt.  

Liberty Global bought Sunrise in 2020 and subsequently delisted it from the Swiss stock exchange. It merged the mobile company with fixed operation UPC Switzerland and now plans to spin off and sell shares in the combined fixed-mobile player.

The proposal is subject to a number of factors including shareholder approval and market conditions, Liberty Global noted.  

Sunrise CEO Andre Krause said the operator was “excited at the prospect of being listed in Switzerland once again and providing local and international investors with access to our scaled FMC challenger position in the market”, adding it had realised synergies and integration benefits from combining the mobile and fixed providers.