October 23, 2013 - Assignment

Telenor acquires Tele2’s Swedish fibre and cable business serving the consumer market

Telenor Sweden AB has acquired Tele2 Sweden AB’s Swedish fibre and cable business serving the consumer market for SEK 775 million. The acquisition is subject to customary approval of the Competition Authority before the closing.

Tele2’s Swedish fiber and cable business portfolio includes 370,000 households with a connection to fiber and cable (Coax). The agreement includes the transfer of all of Tele2s employees to Telenor.

Telenor Sweden is a supplier of telecommunications services with an annual turnover of approximately SEK 12.3 billion (2012) and approximately 2,000 employees. Telenor Group is one of the world’s major mobile operators with more than 150 million mobile subscriptions. The Group has mobile operations in eleven markets throughout the Nordic region, Central and Eastern Europe and Asia, as well as in an additional 18 markets through a 42.95 per cent ownership in VimpelCom Ltd. The Group, with annual sales of NOK 102 billion (2012) and about 30,000 employees, is listed on the Oslo Stock Exchange.

Telenor Sverige was advised by Mannheimer Swartling in the transaction. The firm’s team included primarily Hans Andréasson, Martin Gynnerstedt (project leader), Gustav Lundin, Julia Nilsson and Daniel Stålberg. Johan Carle advised on competition law matters.