Swedish incumbent TeliaSonera has snapped up local FTTH operator Zitius, along with Quadracom Networks and services provider Riksnet, for SKr473m (US$72.4m) on a cash and debt-free basis.
The target companies, presently owned by MTG Broadcasting and…
Swedish incumbent TeliaSonera has snapped up local FTTH operator Zitius, along with Quadracom Networks and services provider Riksnet, for SKr473m (US$72.4m) on a cash and debt-free basis.
The target companies, presently owned by MTG Broadcasting and Quadracom, had net sales of around SKr330m (US$50.5m) in 2012, TeliaSonera said in a statement.
Handelsbanken acted as financial adviser to the telco for the deal, which is subject to approval from the Swedish competition authority.
The move is expected to expand TeliaSonera’s mobile and fixed infrastructure in Sweden, with the operations becoming part of its fibre business. The company said it is planning to invest SKr5bn (US$765m) until 2015 to develop such infrastructure.
In October, the operator confirmed plans to issue SKr750m (US$117m) in notes due November 2023. The notes had been upsized by SKr250m (US$39m).
