Tele2 completes merger with Com Hem

5 Nov 2018

Sweden’s Tele2 has announced the completion of its merger with broadband and pay-TV operator Com Hem. The enlarged unit will trade under the Tele2 brand. Com Hem’s shareholders receive SEK37.02 (USD4.07) in cash plus 1.0374 B shares in Tele2 for each share in Com Hem they hold.

The EC cleared the merger last month, concluding that ‘the transaction would raise no competition concerns as the companies’ activities and assets are largely complementary’. While Tele2 is mainly focussed on the mobile market, Com Hem targets the fixed line and pay-TV sectors. The enlarged Tele2 will be in second place in Sweden’s cellular, broadband and fixed telephony markets behind Telia.

Anders Nilsson, President and CEO of Tele2, commented: ‘Together, united as Tele2, we represent huge potential and will be able to offer significant benefits to Swedish individuals, households, businesses and our shareholders.’

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