Acquisitions and disposals

In 2015, agreements involving subsidiaries, associated companies and other equity holdings were made as follows. For further information on business combinations, see Note C33 to the consolidated financial statements.

Date

Country

Comments

January 2, 2015

Sweden

TeliaSonera acquired all shares in the local open fiber network operator Transit Bredband AB.

February 12, 2015

Norway

On July 7, 2014, TeliaSonera announced that it had agreed to acquire Tele2’s operations in Norway, Tele2 Norge AS and Network Norway AS, at an enterprise value of SEK 5.1 billion on a cash and debt-free basis. TeliaSonera also committed itself to 98 percent population coverage for 4G by 2016, two years ahead of its obligations. The acquisition was subject to Norwegian competition authority approval. On February 5, 2015, TeliaSonera announced that the acquisition had been approved and the transaction closed on February 12, 2015. As part of the remedies provided in order to get the approval, the business customer base and the related marketing and sales organization of Network Norway was sold to ICE Communication Norge AS. In addition, TeliaSonera sold infrastructure to ICE. TeliaSonera and Tele2 had therefore agreed to adjust the enterprise value to SEK 4.5 billion on a cash and debt-free basis. At the same time, TeliaSonera reiterated its 4G coverage commitment.

May 4, 2015 and September 1, 2015

Sweden

TeliaSonera broadened its M2M (machine-to-machine) and IoT (internet of things) portfolio by acquiring a 30 percent ownership in Springworks AB.

June 4, 2015

Sweden

TeliaSonera acquired a close to 5 percent holding in Soundtrack your brand Sweden AB, a re-seller of Spotify’s business-to-business music subscription streaming service.

June 8, 2015

Finland

TeliaSonera acquired all outstanding shares in ict-verstas Oy, providing managed services to business customers.

June 10, 2015

Luxembourg

TeliaSonera announced that TeliaSonera and Spotify had decided to further boost co-operation following more than five years of successful partnership and TeliaSonera made an equity investment of USD 115 million for a 1.4 percent holding in the parent company Spotify Technology S.A.

August 3, 2015

Estonia

TeliaSonera acquired all shares in Green IT OÜ, an IT device rental and asset management services company.

September 11, 2015

Denmark

On December 3, 2014, TeliaSonera announced that it had entered into an agreement with Telenor to merge the two companies’ Danish operations into a new joint venture in which the parties will own 50 percent each. The transaction required approval from the European Commission. On April 8, 2015, TeliaSonera announced that the Commission had announced that it should open an in-depth investigation into the proposed merger. On June 23, 2015, TeliaSonera and Telenor commented on the Commission Statement of Objections regarding the proposed merger. On September 11, 2015, TeliaSonera and Telenor announced the withdrawal of the proposed merger of their respective business units in Denmark. The companies had not been able to agree with the European Commission on acceptable conditions to go ahead with their plan to create a robust mobile operator.

October 5, 2015

Sweden

TeliaSonera acquired all shares in Växjö Support Center Försäljnings AB, a training and support company within mobility services for business customers.

December 21, 2015

Nepal

TeliaSonera announced that it had agreed to sell its 60.4 percent ownership in the Nepalese operator Ncell to Axiata, one of Asia’s largest telecommunication groups, for USD 1,030 million on a cash and debt free basis. At the same time, TeliaSonera should dissolve its economic interests in the 20 percent local ownership and receive approximately USD 48 million. The transactions are conditional on each other. Ncell had a net cash position of approximately USD 284 million, after purchase price adjustments, as of September 30, 2015, and TeliaSonera will be paid for the cash position at closing in proportion to its economic interest of 80.4 percent. The divestment, all transactions included, results in a positive net cash effect for TeliaSonera, corresponding to approximately SEK 7.5 billion after provisions, primarily related to tax. Closing is expected during the first half of 2016.

December 30, 2015

Denmark

DLG Tele I/S became a fully-owned subsidiary as TeliaSonera acquired another 50 percent share in the company.

 

© TeliaSonera 2015
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