TeliaSonera, Telenor drop merger of Denmark biz

Mobile service providers TeliaSonera and Telenor have dropped their decision to merge their telecom business in Denmark.

This follows the European Commission putting several conditions which were not acceptable to both telecoms.

TeliaSonera and Telenor announced the agreement to merge their Danish operations last year. They aimed to create a joint venture to increase investments in networks and technology.

Earlier, Telenor and TeliaSonera announced the appointment of Hilde Tonne as the CEO for the future joint venture in Denmark. Telia Denmark’s CEO Soren Abildgaard will be the deputy CEO.

Robert Andersson, executive vice president and head of Region Europe in TeliaSonera and Kjell Morten Johnsen, executive vice president and head of Telenor Region Europe, said the discussions have reached a point where it is no longer possible to gain approval from the European Commission for the proposed transaction.

TeliaSonera and Telenor will review the strategic options in the Danish market.

[email protected]

Latest

More like this
Related

AT&T faces questions from senators over cyber-attack affecting 109 mn

Two U.S. senators have demanded answers from AT&T regarding...

India telecoms poised for ARPU growth with tariff hike and data surge

Indian telecom companies are set to see a substantial...

SK Telecom to invest $200 mn in SMART Global in AI push

SK Telecom is set to invest $200 million in...

AT&T faces scrutiny over cybersecurity spending following data breach impacting 109 mn

Telecom operator AT&T has disclosed a significant data breach...