Investigation into acquisition of Bonnier Broadcasting moves into phase 2 in line with expectations
- 2019-05-10 15:16 UTC
The European Commission continues its review of Telia Company’s acquisition of Bonnier Broadcasting and opens an in-depth phase 2 investigation.
Telia Company formally notified the European Commission of the acquisition of Bonnier Broadcasting on March 15, 2019. The Commission then initiated an analysis of the competition aspects of the transaction in a phase 1 investigation.
The Commission has notified Telia Company of its concerns and the process now continues with an in-depth phase 2 investigation which as a main rule lasts no more than 90 working days.
“A phase 2 investigation into the acquisition of Bonnier Broadcasting is fully in line with our expectations and we now look forward to continuing the constructive dialogue with the European Commission. We’re confident that any concerns following the in-depth investigation will be resolved,” says Jonas Bengtsson, General Counsel at Telia Company.
Telia Company announced the acquisition of Bonnier Broadcasting including brands TV4 in Sweden, Finnish MTV and C More which operates in both countries, from Bonnier AB for SEK 9.2 billion on a cash and debt free basis, on July 20, 2018. The acquisition is fully in line with Telia Company's strategy and ambition to offer more to the customers, and combines Telia Company's leading mobile and fixed network with one of the most successful commercial media-houses in the Nordics.
Telia Company expects to be able to complete the acquisition of Bonnier Broadcasting during the second half of 2019.
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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 Telia Company.
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