EBL sells telecom division to Sunrise
September 1, 2022
EBL has been active in the telecom business since 2000 and owns telecom networks in some 200 municipalities in Switzerland. At the same time, EBL has for several years been pursuing a policy of expansion of its business areas to incorporate renewable energy/heat production and distribution. As a result of this strategic focus, EBL is selling its telecom division to Sunrise.
EBL explored the option of selling its telecom division as part of its strategic refocus and during the course of a detailed transaction project, EBL was able in August 2022 to agree on a sale with Sunrise, Switzerland’s largest private telecommunications company. Both parties are preparing for the business to be transferred in January 2023. Nothing will change for EBL telecom customers in January.
“This sale will allow EBL to focus more strongly on its two strategic objectives of ensuring security of supply and decarbonizing the energy system, thus making an important contribution for future generations. At the same time, the sale of our telecom division to Sunrise ensures that our telecom customers can continue to use state-of-the-art products on our excellent telecom networks,” commented Tobias Andrist, CEO of EBL.
“EBL has been our network partner for 18 years now. As such, EBL telecom customers have already been benefiting from our mobile, landline, Internet and TV services for a long time. With the takeover of EBL’s entire telecom division, we can provide direct and improved support for these customers. They can also look forward to even more innovative services,” added André Krause, CEO of Sunrise, of the acquisition.
Terms of the sale were not disclosed.