Telia Group will acquire Danish firm TDC’s Norwegian business unit, including its subsidiary GET, providing the company with an enormous presence in the Norwegian fixed line and mobile markets
Swedish operator Telia has taken a huge step towards expanding its operations in neighbouring Norway by purchasing TDC’s Norwegian operations for a reported $2.6 billion.
In doing so, Telia will position itself as the number two operator in Norway, directly challenging state-controlled Telenor for supremacy in the Nordic state.
The deal includes the acquisition of TDC’s sub-brand, Get, which provides fixed line broadband services to over 500,000 homes and businesses in Norway.
“It is with great excitement and commitment that we announce the agreement to acquire GET and TDC Norway. It will create a leading convergent operator for both consumers and enterprises in Norway which can compete in the market with a lot of attractive and new products and services. This transaction is beneficial for the Norwegian customers and society. We are building a great company with passionate employees where we have invested heavily in our mobile network which now covers 98 percent of the country. As part of Telia Company, GET will continue to invest in the rollout of broadband and fibre,” says Johan Dennelind, president and CEO of Telia Company.
TDC Norway, including Get, posted revenues of around $485 million and Telia expects to be able to harness around $73 million of benefits from numerous synergies by 2021, including churn reduction and business to business cross sales.
Telia estimate that the acquisition will incur integration costs of approximately $25 million per year during 2019 and 2020.
“We have a history of successful acquisitions in Norway and I am fully confident that this transaction will be no exception. I’m very much looking forward to welcoming GET’s and TDC Norway’s employees and customers to Telia Company,” Dennelind added.
Telia Group will be speaking at the forthcoming Carriers World event, held in London from the 12-13th September 2018. The company’s VP for strategy, Johan Ottosson, will be sharing his insight on developing data strategies, as telcos look to evolve their portfolio of services into a decidedly more profitable offering. Click here for a full agenda and to find out how you can be art of the show.