In a transaction valuing its Norwegian businesses at NOK 21.0 billion, TDC Group has divested Get and TDC Norway to Telia Company.
The divestment will allow TDC Group to focus fully on delivering on the vision for the Danish business to offer high speed and high-quality connectivity to all Danes through best-in-class fiber and mobile networks, whilst continuing to develop and offer innovative digital products and solutions to businesses and consumers, thus supporting the digitisation of Denmark.
“During the latest months, we have reviewed our strategic options and developed detailed plans for delivering on our vision. Get and TDC Norway are high quality businesses, but it has become clear that we do not need to own these businesses in order for us to succeed with what is essentially an ambition focused on Denmark,” says Pernille Erenbjerg, Group CEO, TDC Group.
The agreement means Telia will take over nearly 900 employees and more than 1 million customers (RGUs) with the acquisition of Get and TDC Norway. The agreement itself will have no immediate impact on the customers, whose terms and conditions will remain the same.
“In Telia Company, we have found a good long-term owner for our Norwegian activities.The combination of our strong fiber and cable networks with Telia’s high quality mobile network means that Get and TDC Norway can continue to invest in innovation and further development of converged services, and for TDC Group it means that we can focus fully on delivering on our vision for Denmark,” added Erenbjerg.
The divestment of the Norwegian activities is subject to approval by the Norwegian competition authorities. This is expected to take place during the second half of 2018.