(Reuters) – Switzerland’s Sunrise Communications Group AG has confirmed it is in talks with broadband provider Liberty Global Plc about a potential acquisition of its Swiss business UPC Schweiz.

In case of a deal, Sunrise said it will retain its existing progressive shareholder distribution policy. There is no certainty that a deal will materialize, the company said in a news release on Tuesday.

The Financial Times had reported on Friday that Sunrise was in advanced discussions to acquire Liberty Global’s Swiss cable arm.