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Swedish Telecom to Buy TDC’s Norway Business
Swedish Telecom to Buy TDC’s Norway Business

Swedish Telecom to Buy TDC’s Norway Business

Swedish Telecom to Buy TDC’s Norway Business

Swedish telecom operator Telia Company is buying TDC’s Norwegian business in a $2.6 billion deal that adds broadband and TV to its services in Norway, Reuters reported. Telia will become the second biggest player for both mobile and fixed services after Norwegian market leader Telenor once the acquisition is completed. Rapid change in the global telecoms and media sectors as players look to pool services to drive revenue growth has also begun reshaping the Nordic market with Sweden’s Tele2 making a bid for cable-TV firm Com Hem this year. Telia’s Norwegian purchase would leave it with mobile, fixed-line and TV operations in all of its seven Nordic and Baltic markets, though its business in Denmark remains too small to be sufficiently profitable. The acquisition, which Telia expects to complete during the second half of 2018, comes as no surprise as Telia has long said purchases of broadband and cable-TV assets in Norway were a priority. TDC’s sale of its Norwegian business—GET and TDC Norway—comes after its new owners delisted the firm and opted to pursue investments in Danish infrastructure and digitial services.

 

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