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Sunrise Communications, the Swiss subsidiary of Danish communication services provider TDC, has acquired Tele2 Communication Services, the third largest fixed-line telecommunications provider in Switzerland, for CHF 50 million (£25 million).

The terms of the deal will be satisfied in cash and with the payment of an outstanding loan. Sunrise aims to reduce operational costs and increase cross-selling opportunities across an enlarged customer base though the deal.

The Swiss competition authority and the Swiss Federal Communication Commission are currently reviewing the transaction.

In the first six months of the year, Tele2 posted negative EBITDA of CHF 2.6 million (against a positive EBITDA for 2007 of CHF 2.2 million) and net revenue of CHF 115.1 million (against a net revenue for 2007 of CHF 250.9 million).

TDC was fully privatized in 1998. Nordic Telephone Company ApS owns 87.9 per cent of TDC, with the remainder of the shares held by institutional and individual shareholders.

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