November 22, 2011 - Assignment

Telenor, Telia, Tele2 and 3 form mobile payments joint venture

Telenor, Telia, Tele2 and 3 have formed a joint venture to provide a mobile payments service. The company is equally owned by Telenor, Telia, Tele2 and 3 and will operate as a commercial venture.

The new mobile payments company has been named 4TSverige; the official brand name will be launched at a later date. The company’s ambition is that cross-operator mobile payment services offered by the joint venture will be available to all Swedish mobile customers, with both subscription and prepaid services, by summer 2012. A joint company for all types of mobile payments makes payments easier and safer for consumers. Additionally, a cross-operator solution enables users to change operator more easily. By working with a single cross-operator party, merchants and partners will also be subject to less administrative cost, and be granted greater security.

Telenor Sweden is a full-scale convergent telecom provider in the Swedish business and consumer markets and the company’s operations include Bredbandsbolaget and Glocalnet. The company has over 2 million subscribers in Sweden, annual revenues of SEK 11.3 billion (2010) and approximately 2,200 employees. Telenor Sweden is part of Telenor Group which is listed on the Oslo Stock Exchange.

Telenor was advised by Mannheimer Swartling in the negotiations concerning the new joint venture company. Hans Andréasson handled the assignment with Mattias Lampe, and they were assisted primarily by Joel Englund, Anna Enqvist and Jonas Lindqvist.