Sweden: Telia Company completes sale of Danish business unit

Apr 04, 2024 | Posted by Abdul-Rahman Oladimeji

Swedish telco Telia Company has confirmed in a new announcement that the sale of its Danish business unit to local energy and Internet firm Norlys has been finalized for DKK 6.25 billion ($900 million), on a cash and debt-free basis.

“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," said Patrik Hofbauer, president and CEO of Telia Company. "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.”

Telia's origins in Denmark go back to 1995, as a result of a merger between Telia Stofa and TeliaSonera. It's the third-biggest mobile operator in Denmark, behind TDC and Telenor. The company has close to two million subscribers in the country.