Investigation of Danish telecom merger continues
- 2015-04-08 11:00 UTC
The European Commission has today announced that they will open an in-depth investigation into the proposed merger of TeliaSonera’s and Telenor’s Danish operations. This decision is to be expected, given the precedent from other transactions within the European mobile industry in recent years.
We believe that this merger will create a strong and robust competitor across fixed and mobile markets in Denmark. Consumers and businesses will benefit from improved network connectivity, higher speeds and better performance in all areas of the country as well as a larger distribution network and more attractive and user-friendly services. We therefore remain confident that the merger will be approved during 2015.
We are committed to the Danish market and the merger is a necessary step to enable us to free up resources, increase investments and be active in the competition to the benefit of consumers and businesses. Continued investments in telecommunications infrastructure is a pre-requisite for keeping up with consumers’ and businesses’ demand as well as redeeming the potential for growth, competitiveness and innovation high on the political agenda in both Denmark and the EU.
We look forward to continuing our constructive dialogue with the European Commission during this new phase of the investigation.
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 01.00 p.m. CET on April 8, 2015.
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 operates one of the world’s most extensive fiber backbones. In 2014, net sales amounted to SEK 101.1 billion, EBITDA to SEK 35.2 billion and earnings per share to SEK 3.35. The TeliaSonera share is listed on Nasdaq Stockholm and Nasdaq Helsinki. Read more at www.teliasonera.com.