Regulator approves TeliaSonera’s Tele2 Norway deal
Norway’s competition authority has approved TeliaSonera’s acquisition of Tele2’s Norwegian operations, reversing an earlier decision to block the deal.
The approval is subject to the full implementation of a package submitted by TeliaSonera, which includes the conclusion of a roaming agreement with mobile operator ICE and the sale of Tele2’s network and the Network Norway subsidiary to ICE.
As a result of the sale of Network Norway, the price of the transaction has been reduced by 11.8% to $544.58 million (SEK 4.5 billion).
The commitments offered by TeliaSonera make way for a third mobile network in Norway, according to the watchdog, Konkurransetilsynet.
On Dec 1, the authority blocked TeliaSonera’s acquisition, as the move would reduce the number of networks from three to two.
“I am pleased that the Norwegian Competition Authority sees the advantages with this transaction. This is good, not only for our and Tele2's customers, but also for Norway as a whole,” said Johan Dennelind, president and CEO of TeliaSonera. “We will be a stronger and more credible alternative to Telenor on their home market.”