Cheque mate? TeliaSonera wins Chess battle

30 Aug 2005

Pan-Nordic telecoms operator TeliaSonera has signed a SEK1.89 billion (USD250 million) deal to take control of Norway’s third largest telecoms operator Chess/Sense. The purchase will strengthen its position in the Norwegian market, where Stockholm-based company already owns number two operator NetCom. TeliaSonera says it has agreed terms to buy a 91.2% interest in Vollvik Gruppen, which owns Chess, and says it aims to hoover up the rest of the shares by the middle of the week.

Chess owns its own network infrastructure and has a customer base of more than 400,000 users. TeliaSonera’s acquisition will boost its EBITDA by SEK810 million and, on a pre-tax level, boost its cash flow by SEK730 million from 2006 onwards.

Norway, Telia Company, Telia Norge