Tele2 Sweden has agreed to sell its residential cable and fibre operations, including residential customers to Telenor.
The SEK 794 million deal does not include Tele2’s fibre infrastructure or business customers. 220,000 cable TV customers will now receive their service from Telenor.
Thomas Ekman, CEO of Tele2 Sweden, said: ”I am very proud that we have been able to reach an agreement with Telenor. By selling our residential cable and fibre operations, we clearly establish our position as a mobile operator with a strong focus on mobile services. Moreover, the gains from this transaction will enable us to invest further in our mobile network, which is the very backbone of our operations. Through this deal, we take yet another step in our strategic direction to offer our customers first-class mobile connectivity.”
Tele2 Sweden’s residential cable and fiber operations showed a turnover of approximately SEK 530 million in 2012. The customer base amounted to approximately 125 000 customers in fixed broadband and 75 000 digital TV customers, at the end of 2012. The transaction will result in a capital gain of approximately SEK 250 million.
Approval from the Swedish Competition Authority will be required.
