January 10, 2018 / 6:39 AM / in a year

Sweden's Tele2 to buy cable TV firm Com Hem

STOCKHOLM, Jan 10 (Reuters) - Swedish telecoms operator Tele2 and cable TV company Com Hem have agreed to merge, the two companies said on Wednesday.

Com Hem’s owners will receive a 26.9 percent stake in the merged company and a total cash consideration of 6.6 billion crowns ($801.7 million).

They said in separate statements they expect synergies of around 900 million crowns from the merger within five years, and that the deal is expected to close in the second half of 2018.

Investment company Kinnevik said in a separate statement it will become the top owner of the merged company.

$1 = 8.2329 Swedish crowns Reporting by Anna Ringstrom, editing by terje Solsvik

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