TeliaSonera and Telenor withdraw from merger in Denmark
- 2015-09-16 15:14 UTC
TeliaSonera and Telenor today announce the withdrawal of the proposed merger of their respective business units in Denmark. The companies have not been able to agree with the European Commission on acceptable conditions to go ahead with their plan to create a robust mobile operator.
In December last year, TeliaSonera and Telenor reached an agreement to merge their Danish operations. The new joint venture would have created a mobile operator that would be able to increase investments in networks and technology, to the benefit of the Danish customers.
“Since the beginning, we have been strong advocates for the need to increase investment levels in Denmark. In our view, creating a market player with the scale and ability to compete and invest would ensure that customers and businesses would benefit from better quality, speed and coverage,” says Robert Andersson, Executive Vice President and Head of Region Europe in TeliaSonera.
However, the merger discussions have now reached a point where it is no longer possible to gain approval for the proposed transaction.
“In the interests of both companies, we felt it necessary to act decisively. TeliaSonera and Telenor will continue to compete and deliver products and services in the Danish market through our respective original, and still fully up-and-running Danish operations,” says Kjell Morten Johnsen, Executive Vice President and Head of Telenor Region Europe.
TeliaSonera and Telenor now continue to review the strategic options in the Danish market.
Analyst and media telephone conference at 9 a.m. CET
TeliaSonera invites you to a conference call with TeliaSonera’s CFO Christian Luiga.
Dial-in number: +44 (0) 1452 560304
Access code: 37601449
You can also listen to the conference call afterwards until September 17, 2015.
Replay number: +44 (0) 1452 55 0000
Access code: 37601449
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 Sept 11, 2015.