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TDC exits Sweden in sale to Tele2
2016-06-21 09:01:00| Telecompaper Headlines
(Telecompaper) Danish operator TDC is exiting the Swedish market and selling its activities there to Tele2. Tele2 will acquire TDC Sweden at an enterprise Value of SEK 2.9 billion, helping strengthen its position in the B2B segment on its home market. TDC Sweden serves the public sector and many blue-chip customers in Sweden with a range of connectivity services. It generated net sales in 2015 of SEK 3.4 billion and EBITDA of SEK 0.4 billion. The operations had 809 full-time employees at the end of 2015. For TDC, thing brings to an end its strategic review and leaves the company focused on Denmark and Norway. It will continue to cooperate with Tele2 in Sweden to serve business customers there. Tele2 expects synergies of SEK 300 million in annual opex and capex and SEK 200 million in one-off capital expenditure thanks to the deal. It plans a rights issue to raise SEK 3 billion to strengthen its balance sheet after the acquisition.
Tags: sale
sweden
exits
tele2
Category:Telecommunications