Telia to sell Danish operations for about $920 mln (updated)

Calix

25/04/2023 17:38

(Adds detail, background)
       April 25 (Reuters) - Swedish telecoms operator Telia
Company  TELIA.ST  has agreed to sell its Danish operations to
electricity and internet provider Norlys for 6.25 billion Danish
crowns ($919.85 million), it said on Tuesday.
    The disposal comes a few months after Telia reported
fourth-quarter core profit slightly below estimates, proposed a
lower dividend and said it would cut 1,500 jobs this year. 
    Norlys CEO Niels Duedahl said: "Combining Telia's mobile
network with our fibre business will enable Norlys to provide a
full-service solution in Denmark, paving the way for significant
growth opportunities."
    The transaction is expected to close in first quarter of
2024, Telia said, adding that it plans to utilise the proceeds
to reduce debt.
($1 = 6.7946 Danish crowns)

 (Reporting by Akriti Sharma in Bengaluru
Editing by Alex Richardson and David Goodman)
 ((Akriti.Sharma@thomsonreuters.com;))