TeliaSonera ditches Com Hem

23 Apr 2003

TeliaSonera has today announced the sale of its cable TV company Com Hem, to EQT Northern Europe, for SEK2,15 billion. With 1.4 million subscibers, Com Hem is the largest provider of television services in Sweden, supplying pay television services and broadband internet access; in 2002 it reported a EBITDA of SEK53 million. TeliaSonera is selling the company in order to address the EC’s concerns for competition following the merger of Telia and Sonera. The sale is expected to generate a capital gain of over SEK1.6 million for the newly enlarged company. EQT Northern Europe is one of five private equity funds owned by EQT, a European company with total investments exceeding EUR3 billion. The sale is conditional on final approval by the EC and competition authorities.