Telenor Group has signed an agreement to sell its 50% stake in Allente to Viaplay for SEK 1.1 billion (€94.6 million).
Allente was formed as a joint venture between Telenor and Viaplay in May 2020 and was formed our of the merger of DTH satellite businesses Canal Digital and Viasat.
“We are proud of what has been accomplished together with Allente and Viaplay over the past five years. As the company enters its next chapter, there is a better fit with Viaplay’s strategy than with Telenor’s. We’re confident the company will be in the right hands going forward,” says Dan Ouchterlony, EVP of Telenor Amp.
In November 2023 Telenor sold its satellite division to Space Norway, owned by the Norwegian government, severing the tie with the Thor satellites at 1 dgeree West. It spells an end to the once bitter rivalry since Telenor first established Canal Digital with then partner Canal+ in 1997.
“We have had a mutually beneficial cooperation with Telenor over the years, and we are excited to take full ownership of Allente. Building on the strong foundation we’ve created together, we look forward to further enhancing Allente’s offerings and delivering top-notch entertainment experiences to our customers,” says Jørgen Madsen Lindemann, President & CEO of Viaplay Group.
The transaction is expected to close within six to nine months, subject to regulatory approvals in Norway, Sweden, and Denmark.
