Telenor buys Tele2's fibre, cable consumer business

23 Oct 2013

Telenor Sweden has agreed to buy Tele2 Sweden’s consumer fibre and cable network operations for a cash sum of SEK775 million (USD121.3 million). Telenor’s announcement said that the acquisition includes around 370,000 household customers connected to fibre or cable, of which 125,000 are fixed broadband (fibre or cable) customers, 75,000 are digital TV (IPTV) customers on the fibre network and approximately 220,000 households subscribe to cable television. All of the associated 68 Tele2 employees will be transferred to Telenor’s main residential fixed broadband division, Bredbandsbolaget. Lars-Ake Norling, CEO of Telenor Sweden, said: ‘In today’s society, access to high-capacity broadband plays a very central role for most people. Telenor aims to provide optimal connectivity and we want to continue our commitment on fixed broadband and TV through our brand Bredbandsbolaget. This topic is priority for us and our new customers and employees will play a vital role in our business going forward.’ The acquisition is subject to customary approval of the Competition Authority before closing.

Sweden, Tele2, Tele2 Sweden (incl. Com Hem), Telenor Group, Telenor Sweden