EC clears Tele2’s Com Hem buyout

9 Oct 2018

The European Commission (EC) has unconditionally approved the proposed merger between Swedish telcos Tele2 and Com Hem. The Commission concluded that ‘the transaction would raise no competition concerns as the companies’ activities and assets are largely complementary’. While Tele2 is mainly focussed on Sweden’s mobile market, Com Hem targets the fixed line and pay-TV sectors. Tele2 expects the acquisition to close on 5 November. Com Hem’s shareholders will receive SEK37.02 (USD4.07) in cash plus 1.0374 B shares in Tele2 for each share in Com Hem outstanding as at completion of the merger.

Anders Nilsson, incoming President and CEO of Tele2, commented: ‘As one company, we will be able to offer a portfolio of truly integrated services, with significant benefits for Swedish individuals, households, businesses and our shareholders as a result … My main focus now is our preparations for a rapid and efficient integration, to the benefit of both our employees and customers.’

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