Acquisitions
Christen Sveaas and oppkjøpsfondet Norvestor sell the Kristiansand-based mobile company.
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The merged company will have a market share in the Norwegian business market for mobile communications at about 27 per cent measured in revenue the first half of 2016.
the Purchase will strengthen Telias position, and we will seriously become a potent challenger to Telenor is also in the business market. It is good news for all Norwegian enterprises and organizations, ” says Telia Norway-chief, Abraham Foss, in a message.
the Purchase price is nok 2.3 billion on a debt free basis, reports TDN Finans.
Phonero-chief Thore Berthelsen points out that Phonero has taken significant market share since its inception in 2008.
We have earned us a position that we can be proud of. We will continue to build on, now as a part of the network operator Telia in Norway. I’m looking forward to the journey ahead, and I am sure that this will be a good solution for all our customers and employees, ” says Berthelsen of the message.
the Acquisition is expected to provide cost synergies of around nok 400 million, primarily to move traffic to its own network, with limited effect in 2017 and the full effect in 2018.
Phoneros customer base consists of 25,000 to the company with approximately 250.000 mobile.
the Transaction is going to increase Telias market share by selskapssegmentet for mobile telephony from around 13 per cent to 27 per cent. In comparison, Telenor’s market share of 66,9 per cent, says Telia in the message.
Phonero, based in Kristiansand, has so far been owned by, among other things, oppkjøpsfondet Norvestor with 56 per cent, after that, Christen Sveaas-company Kistefos sold down to 20 per cent last year. Employees and other shareholders control the rest.
the Transaction is subject to Konkurransetilsynets acceptance and is expected to be completed during the first quarter of 2017.
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