TeliaSonera acquires Svenska Stadsnät AB
- 2012-03-01 07:00 UTC
TeliaSonera acquires all shares in Svenska Stadsnät AB, a company providing fiber capacity to municipalities, companies and households. The price for the acquisition is not disclosed.
For 2011 net sales in Svenska Stadsnät amounted to SEK 53 million. The company has operations in seven municipalities: Laholm, Svalöv, Örkelljunga, Karlshamn, Gislaved, Gnosjö and Mölndal. The company has 14 employees in Gislaved, Mölndal and Landskrona.
– Svenska Stadsnät has an open-minded and customer focused culture where service providers can act in an open competitive environment and at equal terms, which is in line with our ambitions. Their network complements our network very well, and Svenska Stadsnät has successfully established good relations with the municipalities, says Malin Frenning, President of Business area Broadband Services in TeliaSonera.
The possibility to deliver high capacity to many Swedes in an open fiber network is the core of the development of the fiber market, an ambition in common for TeliaSonera and Svenska Stadsnät.
– With TeliaSonera as a new owner, our business will get the financial resources that a future roll-out requires. As TeliaSonera develops its open model even further, our network and employees will get into the right environment, says Börje Andersson, Chairman of the Board of Svenska Stadsnät.
TeliaSonera’s wholly-owned subsidiary Skanova will take the operational control in the business and consolidate Svenska Stadsnät into its reporting. Initially the business will continue as today. Over time the framework will be evaluated and developed with the aim to give both TeliaSonera’s and Svenska Stadsnät’s customers a high quality experience. The current management will continue to develop the company’s business concept and Jimmy Andreasson, CEO of Svenska Stadsnät, will take part in the management team of Skanova.
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 8 a.m. CET on March 1,