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TeliaSonera wins clearance for takeover of Tele2 Norway
2015-02-05 09:04:00| Telecompaper Headlines
(Telecompaper) Norwegian authorities have approved new conditions for Tele2 to sell its mobile activities in the country to TeliaSonera. The competition authority vetoed the deal in December, and the operators proposed new remedies. Under the new deal, the customer base of Network Norway will be sold to the operator ICE. Network Norway is part of Tele2 and has around 90,000 business customers. TeliaSonera also agreed to provide ICE with national roaming. The total price for TeliaSonera to acquire the remaining assets drops to SEK 4.5 billion from SEK 5.1 billion. However, TeliaSonera said it does not see any change in the expected synergies from the deal, which it estimates at SEK 800 million by the second half of 2016. TeliaSonera also committed to providing 4G services to 98 percent of the population by next year, two years ahead of its licence terms. By this summer already, 90 percent of the country will have access to 4G. Tele2 said it expects to complete the sale within two weeks. Tele2 will book a one-time gain of SEK 1.8 billion from the transaction. It will use the proceeds from the sale to pay an extraordinary dividend of SEK 4.5 billion.
Tags: norway
clearance
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takeover
Category:Telecommunications