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TELIA - Telia AB News Story

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Last Trade - 9:55am

Sector
Telecoms
Size
Large Cap
Market Cap £12.38bn
Enterprise Value £20.74bn
Revenue £7.51bn
Position in Universe 55th / 1831

Telia to buy TDC's Norway business in NOK 21 bln deal

Tue 17th July, 2018 6:31am
STOCKHOLM, July 17 (Reuters) - Swedish telecom operator
Telia Company  TELIA.ST  said on Tuesday it was buying Danish
operator TDC’s Norwegian business for 21 billion Norwegian
crowns ($2.60 billion) on a cash and debt free basis.
    Telia said the acquisition would strengthen its position on
the Norwegian market and position the company as a "strong
challenger" in mobile, TV and broadband. Norway is the home
market of Nordic rival Telenor  TEL.OL . 
    “It is with great excitement and commitment that we announce
the agreement to acquire GET and TDC Norway," Telia CEO Johan
Dennelind said in a statement. 
    TDC’s Norwegian business includes GET, a fiber and TV
provider with a total of 518,000 households and
businesses connected to its fiber-based network, and TDC’s B2B
(business-to-business) business in Norway.
    GET also has more than 1 million private and business
customers who use its TV and broadband services on a daily
basis, Telia said.
    "It will create a leading convergent operator
for both consumers and enterprises in Norway which can compete
in the market with a lot of attractive and new products and
services," Dennelind said.    
    In 2017 GET and TDC Norway reported revenues of 4 billion
Norwegian crowns and EBITDA (earnings before interest, taxes,
depreciation and amortization) of 1.7 billion crowns.
    ($1 = 8.0859 Norwegian crowns)

 (Reporting by Johannes Hellstrom)
 ((johannes.hellstrom@thomsonreuters.com; +4687001008; Reuters
Messaging: johannes.hellstrom.reuters.com@reuters.net))
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