Telia buys ‘Get TDC Norge’

GetAbraham Foss (left) in Telia and Gunnar Evensen in Get.Photo: Lise Åserud / NTB scanpix

Telia has signed an agreement to purchase Get TDC Norway’s cable and broadband company.The acquisition makes it the country’s second largest company in television, broadband and mobile services.

 

The combined company will have approximately 2.3 million mobile customers, and 1.8 million people will be users of Get and TDC broadband and TV services every day  stated a press release from Telia Norway.
“The new company will be a fully-fledged total supplier and an industrial challenger in the market. We will be a powerful and independent competitor to the market leader,’’ said CEO Abraham Foss of Telia Norway.

No immediate importance to customers

‘Get’ has 518,000 households and businesses on its fibre network, and more than 1 million customers for television and broadband. According to Telia, the acquisition of the company will not have any immediate practical significance for customers and existing customer relationships, and services will continue as they are today.

“We have had a good relationship with Telia for a long time, now we take that relationship to a level where we can really create major changes in society,” said Gunnar Evensen, CEO of Get TDC Norway.

The Competition Authority must approve

According to Dagens Næringsliv newspaper, Telia paid a price equal to Gets total company value of NOK 21 billion. The price is 12.1 times the gross operating profit of Get last year.

The newspaper reported that Telia expects to achieve synergies of NOK 600 million by 2021 through cross-selling to both consumers and businesses, reduced customer segments and other savings.

“The agreement assumes approval by the competition authorities, which are expected during the second half of 2018,” wrote Telia Norge in the press release.

 

© NTB scanpix / #Norway Today

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