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TeliaSonera AB Sells NextGenTel to Telio


Thursday, 20 Dec 2012 02:00am EST 

TeliaSonera AB (TeliaSonera) announced that it has signed an agreement to divest its Norwegian subsidiary, NextGenTel to Telio, a company listed on the Oslo Stock Exchange. The sales price is NOK 601 million (approximately SEK 700 million) on a cash and debt free basis (enterprise value). TeliaSonera acquired NextGenTel in 2006 and the company has operated as a subsidiary in the TeliaSonera Group. For the first nine months of 2012, the company reported revenues of NOK 693 million and an EBITDA excluding non-recurring items of NOK 118 million. Following a strategic review of the operations, TeliaSonera has concluded that NextGenTel does not constitute the appropriate platform to compete in the Norwegian broadband market. Handelsbanken Capital Markets has acted as financial advisor to TeliaSonera. The agreement is subject to approval from authorities. TeliaSonera will receive NOK 531 million in cash upon closing with the remaining consideration of NOK 70 million is to be paid in the form of Telio shares. TeliaSonera will recognize a loss of SEK 1.6 billion in the fourth quarter of 2012 from the write-down of goodwill. 

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17 Apr 2014