October 23, 2013 / 6:22 AM / 6 years ago

Telenor buys Tele2 fiber and cable business in Sweden

STOCKHOLM (Reuters) - Norwegian telecoms group Telenor (TEL.OL) said on Wednesday it has agreed to acquire Tele2’s fiber and cable television business in Sweden for a total of 775 million Swedish crowns ($122 million).

It said the acquisition, which includes a portfolio of nearly 400,000 households, would contribute significantly to strengthen its position as a leading provider of fixed broadband and television.

“This topic is priority for us and our new customers and employees will play a vital role in our business going forward,” Lars-Ake Norling, CEO of Telenor Sweden, said in a statement.

All 68 employees will be transferred to Telenor.

$1 = 6.3715 Swedish crowns

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