Competition Authority extends review of Tele2, TeliaSonera deal

10 Sep 2014

Norway’s Competition Authority has extended its investigation of the proposed purchase of Tele2’s Norwegian unit by TeliaSonera. The watchdog has said it requires more time to determine whether the merger will limit competition and whether it will negatively affect customers by leading to higher prices and poorer service quality. A decision on the transaction is now expected by 11 November, it added. As previously reported by CommsUpdate, in July Swedish telecoms group Tele2 agreed to sell its Norwegian unit to rival TeliaSonera for an enterprise value of SEK5.1 billion (USD728 million), equivalent to a cash value of SEK5.3 billion. In announcing the development, Tele2 Norway said the transaction will ‘create a company that is better able to serve Norwegian mobile customers and businesses’, and will allow for the rapid nationwide rollout of 4G.

Norway, Tele2, Tele2 Norge (part of Telia Norge), Telia Company, Telia Norge