Telia Company is to sell its operations and network assets in Denmark to Norlys at an expected valuation of DKK 6.25 billion (£7.7 million).
The Swedish telco says the plan is in line with its strategy to focus on markets where there is no clear path to securing and defending leading market positions.
Allison Kirkby, Telia Company President and CEO, said the sale represented an “exciting opportunity” for the business. “The transaction crystallizes value from both the outstanding work of the Telia Denmark team who have led such an impressive turnaround of the business during the last 18 months, and from the leading 5G digital infrastructure that we have built up in the country.”
The acquisition transforms to energy and internet company into a true challenger in the Danish market.
“Niels Duedahl, Norlys CEO, added: “Combining Telia’s mobile network with our fibre business will enable Norlys to provide a full-service solution in Denmark, paving the way for significant growth opportunities. A strong mobile arm will expand our position as the number one challenger in the Danish market and add to our presence across both the digital and green value chains.”
The transaction is subject to the approval of Norlys’ owners and the relevant regulatory authorities.
