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TELIA - Telia AB News Story

SEK35.7 0.4  1.2%

Last Trade - 05/05/21

Sector
Telecoms
Size
Large Cap
Market Cap £12.25bn
Enterprise Value £20.61bn
Revenue £7.52bn
Position in Universe 57th / 1836

EXCLUSIVE-Telia's $954 mln Bonnier deal faces EU antitrust investigation -sources

Thu 9th May, 2019 12:14pm
(Adds detail and European Commission and Telia declined
comment)
    By Foo Yun Chee
    BRUSSELS, May 9 (Reuters) - Nordic telecoms operator Telia's
 TELIA.ST  close to $1 billion bid for Bonnier Broadcasting
faces a full-scale EU antitrust investigation after failing to
address competition concerns, two people familiar with the
matter said on Thursday.
    Telia announced the deal, worth 9.2 billion Swedish crowns 
($954 million), in July last year as the company looks to expand
its media business as telecoms groups spend heavily to
capitalise on changing television viewing habits.
    Owned by a prominent Swedish family, Bonnier's brands
include Sweden's biggest commercial broadcaster, TV4, and
streaming service C More and Finnish MTV. It competes with state
broadcaster SVT.  urn:newsml:reuters.com:*:nL8N1UG0LI
    Telia offered concessions to the European Commission last
month but these were not sufficient to allay regulatory worries,
the sources said.
    The EU competition enforcer and Telia declined to comment.
    The Commission is set to announce the opening of its
in-depth investigation on Friday, the sources added, giving it
90 working days to examine the deal.
    The deal is politically sensitive for Sweden since the
government owns 37 percent of Telia.
    ($1 = 9.6465 Swedish crowns)

 (Reporting by Foo Yun Chee
Additional reporting by Helena Soderpalm in Stockholm
Editing by David Goodman)
 ((foo.yunchee@thomsonreuters.com; +32 2 287 6844; Reuters
Messaging: foo.yunchee.thomsonreuters.com@reuters.net))
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