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TELIA - Telia AB News Story

SEK36.64 0.1  0.3%

Last Trade - 14/05/21

Sector
Telecoms
Size
Large Cap
Market Cap £12.76bn
Enterprise Value £21.14bn
Revenue £7.54bn
Position in Universe 55th / 1832

BREAKINGVIEWS-Nordic telecom mash-up gives might to challenger

Tue 17th July, 2018 10:27am
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Aimee Donnellan LONDON, July 17 (Reuters Breakingviews) - Sweden’s Telia is beefing up its Norwegian operations by buying rival TDC’s local business for $2.6 bln. That gives it a sturdier platform to challenge incumbent Telenor. Cost savings should help deliver a decent return – as long as it avoids price wars or a regulatory clampdown. Full view will be published shortly. On Twitter https://twitter.com/aimeedonnellan CONTEXT NEWS - Swedish telecom operator Telia Company said on July 17 it is buying Danish rival TDC’s Norwegian business for 21 billion Norwegian crowns ($2.6 billion). - Telia said the buyout would make the company a strong challenger in mobile, TV and broadband. - TDC’s Norwegian business includes GET, a fibre and TV provider with a total of 518,000 households and businesses connected to its fibre-based network, as well as a business-to-business operation, TDC Norway. - Telia said its share buy-back programme and dividend policy would remain intact following the deal. - In 2017, GET and TDC Norway reported revenue of 4 billion Norwegian crowns and EBITDA of 1.7 billion Norwegian crowns. - Telia said it expected the deal to generate 600 million Norwegian crowns of synergies by 2021 while integration costs would be about 200 million Norwegian crowns annually during 2019 and 2020. - The deal is subject to approval of relevant authorities and is expected to be completed in the second half of 2018, Telia said. - Telia shares were down 2 percent at 40.1 Norwegian crowns at 0800 GMT on July 17. - For previous columns by the author, Reuters customers can click on DONNELLAN/ - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS http://bit.ly/BVsubscribe <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ Telia to buy TDC's Norway business in $2.6 bln deal urn:newsml:reuters.com:*:nL8N1UD0LD Telia statement https://www.teliacompany.com/en/news/press-releases/2018/7/telia-company-acquires-tdcs-norwegian-business/ BREAKINGVIEWS-Macquarie takes bold dive into Danish telecoms urn:newsml:reuters.com:*:nL8N1Q246I ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Peter Thal Larsen and Karen Kwok) ((Aimee.Donnellan@thomsonreuters.com; Reuters Messaging: Aimee.Donnellan.thomsonreuters.com@reuters.net))
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