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TELIA - Telia AB News Story

SEK36.55 0.7  1.9%

Last Trade - 12/05/21

Sector
Telecoms
Size
Large Cap
Market Cap £12.47bn
Enterprise Value £20.84bn
Revenue £7.53bn
Position in Universe 55th / 1836

BRIEF-Telia Company acquires TDC's Norway business in 21 bln NOK deal

Tue 17th July, 2018 6:05am
July 17 (Reuters) - Telia Company AB  TELIA.ST :
    * COMPANY ACQUIRES TDC'S NORWEGIAN BUSINESS
    * AT AN ENTERPRISE VALUE OF NOK 21 BILLION ON A CASH AND
DEBT FREE
BASIS
    * SAYS TELIA COMPANY ACQUIRES GET AND TDC NORWAY AT AN
ENTERPRISE
VALUE OF NOK 21 BILLION ON A CASH AND DEBT FREE BASIS
    * ACQUISITION WILL STRENGTHEN TELIA COMPANY'S POSITION ON
NORWEGIAN MARKET
    * SAYS WILL COMBINE ITS AWARD-WINNING MOBILE NETWORK WITH
GET'S
SUPREME TV AND FIXED SERVICES TO CREATE A STRONG CHALLENGER ON
NORWEGIAN MARKET WITH CONVERGED CUSTOMER OFFERINGS
    * SAYS PURCHASE PRICE OF NOK 21 BILLION CORRESPONDS TO AN
EV/EBITDA MULTIPLE OF 12.1X BASED ON 2017, AND 9.0X INCLUDING
EXPECTED SYNERGIES
    * SAYS COMPANY EXPECTS TO GENERATE FULL RUN RATE SYNERGIES
OF NOK
0.6 BILLION BY 2021 FROM B2C AND B2B CROSS-SALES, CHURN
REDUCTION AND OTHER COST EFFICIENCIES
    * SAYS ACQUISITION IS ESTIMATED TO INCUR INTEGRATION COSTS
DURING
2019 AND 2020 OF APPROXIMATELY NOK 200 MILLION ANNUALLY.
    * SAYS ACQUISITION OF GET AND TDC NORWAY IS SUBJECT TO
APPROVAL
FROM RELEVANT AUTHORITIES AND IS EXPECTED TO BE COMPLETED IN
SECOND HALF OF 2018
    * SAYS THIS TRANSACTION PUTS OUR NET DEBT TO EBITDA PRO
FORMA AT
1.9X I.E SLIGHTLY BELOW OUR TARGET OF 2X PLUS/MINUS 0.5X
    * SAYS EARLIER COMMUNICATED SHARE BUY-BACK PROGRAM AND
DIVIDEND
POLICY REMAINS INTACT

Source text for Eikon:  ID:nWkr5DPxr5 
Further company coverage:  TELIA.ST 

 (Stockholm Newsroom)
 ((stockholm.newsroom@thomsonreuters.com; +46 (0)8-700 10 10;))
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