Investor revolt torpedoes Swiss Sunrise's $6.4 billion Liberty Global deal

ZURICH (Reuters) - Sunrise Communications Group bowed to investor pressure on Tuesday and scrapped its 6.3 billion Swiss franc ($6.39 billion £4.94 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."This is a missed opportunity to promote competition..