Sale of Telia Denmark to Norlys closes
Telia Company today announces the closing of the sale of its operations and network assets in Denmark to Norlys a.m.b.a. (Norlys) at an enterprise value of DKK 6.25 billion, on a cash and debt-free basis. Telia intends to use the transaction proceeds for deleveraging purposes and, following the closing of the transaction, Telia’s net debt/adjusted EBITDA is now in the lower part of its 2.0-2.5x target range.
The transaction, first announced on April 25, 2023, is in line with Telia’s strategy of focusing on markets in which there is a clear path to securing and defending leading positions.
Patrik Hofbauer, President and CEO of Telia Company, says: “The sale of our Danish business marks a significant milestone for Telia and I would like to thank everyone at both Telia and Norlys who worked for many months to make this successful divestment possible. Telia will continue to support Norlys to ensure a smooth transition for our former customers in Denmark, who will benefit from gaining access to a broader set of products and services from Denmark’s largest integrated energy and telecommunications group.”
NOTES TO EDITORS
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ABOUT TELIA
Telia Company (STO: TELIA) is a Nordic and Baltic telecommunications leader and Nordic media house, serving consumers, businesses and public sector customers with essential digital infrastructure, ICT services and entertainment. Our 18,000 talented colleagues serve millions of customers every day in one of the world’s most connected regions. We’re the hub in the digital ecosystem, providing 25 million mobile, broadband and TV subscriptions that empower people, companies and societies to stay in touch with everything that matters 24/7/365. Learn more at www.teliacompany.com