TeliaSonera closes the acquisition of ComHouse
- 2008-07-11 11:30 UTC
TeliaSonera has received the approval of the Norwegian competition authority to close the acquisition of the remaining 66.6 percent of the shares in ComHouse, a holding company for the retail chains KlartSvar and Telebutikken in Norway, increasing its holding to 100 percent. The purchase price for 66.6 percent of the shares will be approximately SEK 185 million (NOK 157 million), based on an enterprise value of the entire company of approximately SEK 383 million (NOK 325 million). The transaction was announced on June 17, 2008.
“ComHouse has demonstrated healthy growth and earnings, and the transaction clearly strengthens TeliaSonera’s distribution strategy in Norway,” says Kenneth Karlberg, President Business Area Mobility Services, TeliaSonera.
ComHouse AS is the most important distribution channel for NetCom in Norway. ComHouse consists of the retail chain Telebutikken (65 stores of which 5 are operated through franchise) focused on private customers and the chain KlartSvar (40 locations of which 32 are operated through franchise), which is focused on business customers.
TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at 1.30 p.m. on July 11, 2008.
For further information journalists can contact:
The TeliaSonera Press Office, +46-(0)8-713 58 30
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 TeliaSonera.