Telia Inks DKK 6.2 bn Deal to Sell Denmark Business to Norlys

In a strategic move aligning with Telia Company’s vision, a definitive and binding agreement has been reached to sell its operations and network assets in Denmark to Norlys at a substantial enterprise value of DKK 6.25 billion, based on a cash and debt-free assessment. This valuation translates to 8.9 times Telia Denmark’s reported EBITDA for the year 2022.
Telia network offersThe transaction, initially disclosed on April 25, 2023, is a pivotal step in Telia’s strategy to concentrate on markets where the potential to attain and safeguard dominant market positions is evident.

By divesting its Danish operations and network assets, Telia Company aims to further strengthen its market position and streamline operations in key regions. Telia has presence in Sweden, Finland, Norway, Lithuania and Estonia

Telia earlier revealed that it has expanded its 5G network in Denmark, covering over 90 percent of the population and supporting positive mobile growth across both Consumer and Enterprise, as well as fueling growth in broadband through the successful 5G Internet service delivered via Fixed Wireless Access.

The deal is contingent upon approval from Norlys’ stakeholders and standard regulatory clearances. Anticipated to conclude no later than Q1 2024, the transaction represents a mutually beneficial endeavor that aligns with the growth strategies of both Telia Company and Norlys.

Telia Company and Norlys are committed to ensuring a seamless transition of operations, ultimately benefiting both their stakeholders and the telecommunications landscape in Denmark. Further details and updates on the transaction will be made available as the process advances towards completion.