Stofa is to purchase the Danish cable interests of the Telenor-owned Canal Digital for around DKK100 million (€13.42 million). The acquisition, which takes immediate effect, though a decision from local competition authorities is required.
Key to the agreement is the 633,000 households that receive their signals as part of agreements with local antenna associations. 32,000 triple play customers are also included, a customer base that has built up as part of Canal Digital’s drive to sell broadband packages to its antenna-based customers.
“The homes and the associations are of course our first priority right now. All agreements will remain unchanged, says Stofa CEO, Ole Simonsen. “We estimate that the new company contribute positively to Stofa earnings within a short period of time”.
Jarl Søderman, CEO Canal Digital Denmark, said as a pan-Nordic operator, it was unable to benefit from any synergies between cable operators in the different countries. “Canal Digital is currently too small an actor to develop new services and products for the cable television market. I am convinced that our customers in antenna association market in Denmark has a highly professional and visionary partner in Stofa.”
Until July 2010, Stofa was owned by the Swedish-Finnish telco Telia Sonera, before the business was acquired by the private equity company Ratos.
