February 1, 2018 / 7:13 AM / 2 months ago

Denmark's TDC to buy MTG's Nordic Entertainment and Studios businesses

STOCKHOLM, Feb 1 (Reuters) - Telecoms operator TDC has agreed to buy Swedish Modern Times Group’s Nordic Entertainment and Studios units in a cash and share deal valuing the acquired business at 19.55 billion Swedish crowns ($2.48 billion).

After the deal, TDC said it will have close to 3 million TV subscribers and access to 10 million households in the Nordic regions. The valuation of the two acquired units was on a cash- and debt-free basis.

Kinnevik, which owns 20.0 percent of the capital and 47.6 percent of the votes in MTG, said in a separate statement it supported the merger.

Some analysts had said a split of MTG into two separate companies was on the cards, as there were no obvious synergies between the firm’s Nordic entertainment operations and its digital arm. (Reporting by Helena Soderpalm; editing by Niklas Pollard)

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