Danish cableco Stofa has completed its DKK 51m (US$9.4m) cash acquisition of satellite broadcaster Canal Digital’s cable assets in Denmark.
Stofa acquired 31 cable networks from Canal Digital Denmark, owned by Norwegian mobile operator Telenor, which…
Danish cableco Stofa has completed its DKK 51m (US$9.4m) cash acquisition of satellite broadcaster Canal Digital’s cable assets in Denmark.
Stofa acquired 31 cable networks from Canal Digital Denmark, owned by Norwegian mobile operator Telenor, which will keep on to the satellite side of its business in the country.
Klaus Høeg-Hagensen, CEO Stofa, said the acquisition will help shore up the company as it faces tough competition in Denmark.
Telenor divested the Danish cable assets of Canal Digital, which is also present in Norway and Sweden, after highlighting a lack of synergies between its Nordic cable divisions.
Earlier this year Stofa attempted to merge with Canal Digital Denmark in its entirety, but the companies were forced to withdraw this proposal after regulatory authorities flagged competition concerns.
The cable assets acquired by Stofa represent a significantly smaller deal, enabling it to pass under the regulatory radar, according to a spokesman for the Danish firm.
Stofa, which is owned by PE firm Ratos, was legally advised by Accura, while lawyers at Plesner advised Telenor.
