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TelecomTV TRACKER

Sourced by TelecomTV's TRACKER platform
from TeliaSonera Newsroom

Tracker

Telia Company acquires Phonero in Norway

Via TeliaSonera Newsroom

Nov 7, 2016

Mon, Nov 07, 2016 07:00 CET

Telia Company acquires Norwegian Phonero at an enterprise value of NOK 2,300 million on a cash and debt free basis. The transaction will strengthen Telia’s position in the Norwegian enterprise segment and expects to generate annual cost synergies of approximately NOK 400 million.

Phonero offers telecommunication services to small and medium sized corporate customers as well as public companies in Norway. Phonero’s customer base comprises 25,000 invoiced enterprises with approximately 250,000 mobile subscriptions. The transaction will increase Telia’s market share in the mobile enterprise segment from approximately 13 percent to 27 percent.

During the twelve-month period ending June 30, 2016, Phonero reported net sales of NOK 1,104 million and an adjusted EBITDA of NOK 217 million. Telia expects to realize annual cost synergies of approximately NOK 400 million, mainly from transferring traffic to its own network, with limited effect in 2017 and full effect in 2018. Based on Phonero’s results in the last twelve-month period combined with expected synergies, the purchase price corresponds to an EV/EBITDA multiple of 3.7x.

“I am glad to welcome Phonero employees to Telia Company and Phonero customers to Telia Norway. This is another important step in creating a leading converged player in both consumer and enterprise across the Nordics and Baltics”, says Johan Dennelind, President and CEO of Telia Company.

“The transaction will strengthen Telia’s position as a true alternative to the incumbent in the Norwegian B2B market. We have complementary knowledge, expertise and service solutions that will help to create added value for business customers. It will strengthen the competition in the Norwegian B2B market and enables us to create more innovation, better customer journeys and ensure a diversity of services for the benefit of all customers”, says Abraham Foss, CEO of Telia Company’s Norwegian operation.

Following a successful rebranding in early 2016, Telia continues to develop and improve its services to the Norwegian customers. In the past couple of years, Telia has made significant investments in 4G coverage and capacity across Norway. Today, the network covers 98 percent of the Norwegian population and Telia has this year received independent awards for the best 4G network in the country.

The acquisition is subject to approval from the Norwegian competition authorities and is expected be completed in the first quarter of 2017.

Telia Company invites to a press and analyst call today at 8.30 AM CET

Dial-in numbers: +44 (0) 1452 555566, 08006940257 Access code: 14920770

You can also listen to the conference call afterwards until November 11, 2016.

Replay number: +44 (0)1452550000 Access code: 14920770

Related Topics
  • Announcement,
  • Device Software & Apps,
  • Digital Platforms & Services,
  • Enterprise,
  • Europe,
  • Mobile,
  • News,
  • Telia Company,
  • Tracker

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This content extract was originally sourced from an external website (TeliaSonera Newsroom) and is the copyright of the external website owner. TelecomTV is not responsible for the content of external websites. Legal Notices

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