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The deal will allow Telia Group to offer a wider range of converged services to its subscribers
The European Commission has approved Telia Group’s acquisition of Swedish broadcasting firm, Bonnier Broadcasting, in a deal worth a reported $950 million (SEK 9.2 billion).
As part of the deal, Telia Group will gain access to Bonnier’s portfolio of content, including sports rights and original programming. The deal will allow Telia Group to sign up more subscribers to its lucrative triple and quad-play services.
“This is a milestone for Telia Company. We become pioneers in the Nordics by creating convergence that can meet customers’ demands for high quality connectivity, reliable streaming and great content,” says Christian Luiga, acting president and CEO of Telia Company.
“We’ve had the most satisfied TV customers for five consecutive years in Sweden. This transaction naturally enables us to improve even further. I look forward to closing this transaction and to start co-operating for real with our new colleagues to become the natural choice for content and communication services in the Nordics and Baltics.”
The transaction is expected to close on the 2nd of December, at which point Telia Group will begin integrating 1,200 Bonnier employees from across Sweden, Denmark and Finland into its workforce.
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