Preliminary notice of TeliaSonera's acquisition of Tele2 Norway
- 2014-12-01 11:10 UTC
The Norwegian Competition Authority, Konkurransetilsynet, has today announced objections to TeliaSonera’s acquisition of Tele2's Norwegian operations. TeliaSonera will now analyze the Authority’s objections and respond to it by December 22.
“We and Konkurransetilsynet make different assessments of what is good for competition and how that affects the customers. Now we will analyze their objections carefully and then continue the dialogue,” says Robert Andersson, Head of region Europe at TeliaSonera.
TeliaSonera has until December 22 to respond to Konkurransetilsynets’ objections. Subsequently, the Authority will make a further valuation based on the parties' comments.
TeliaSonera announced in July its intention to buy Tele2 Norway for SEK 5.1 billion. At the same time TeliaSonera committed itself to 98 percent population coverage for 4G by 2016, two years earlier than required - provided that the acquisition is approved by the Competition Authority. Faster roll out of 4G will be possible by the synergies created by the acquisition of Tele2 Norway.
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 TIME 12:10 p.m. CET on December 1, 2014.
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.
TeliaSonera provides network access and telecommunication services in the Nordic and Baltic countries, the emerging markets of Eurasia, including Russia and Turkey, and in Spain. TeliaSonera helps people and companies communicate in an easy, efficient and environmentally friendly way. Our ambition is to be number one or two in all our markets, providing the best customer experience, high quality networks and cost efficient operations. TeliaSonera is also a leading wholesale provider who owns and operate one of the world’s most extensive fiber backbones. In 2013, net sales amounted to SEK 101.7 billion, EBITDA to SEK 35.6 billion and earnings per share to SEK 3.46. The TeliaSonera share is listed on NASDAQ OMX Stockholm and NASDAQ OMX Helsinki. Read more at www.teliasonera.com.