Norwegian competition authority negative to Telia Company’s acquisition of Phonero
The Norwegian competition authority has today communicated a negative preliminary notice in regards to Telia Company’s acquisition of Phonero. Telia Company will now assess the preliminary notice and respond to the authority shortly.
“We disagree with the competition authority’s preliminary notice and we are very surprised by their assessment of the dynamics of the Norwegian enterprise segment. If their decision stands, only the dominant operator in the market will benefit”, says Abraham Foss, CEO of Telia Company’s Norwegian operation.
Telia Company’s market share in the enterprise segment is currently 13 percent. This would increase to 26 percent through the acquisition of Phonero.
“We firmly believe that the acquisition would provide a clearer alternative while also strengthening competition in the enterprise segment. There will be no real competition in the Norwegian enterprise segment until the dominant operator is properly challenged”, continues Abraham Foss.
Telia Company will now assess the preliminary notice and respond to the authority within the timeframe that they have set.
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Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of Telia Company.
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