Telia Company acquires GET and TDC Norway for $2.6bn.

Telia Company, a Stockholm, Sweden-based telecom operator, announced the acquisition of GET and TDC Norway.

The transaction was made at an enterprise value of NOK 21bn ($2.54bn) on a cash and debt free basis.

The Danish operator TDC’s Norwegian business encompasses GET, a leading provider of fixed and TV services, with a total of 518,000 households and businesses connected to its fiber-based network, and more than 1 million private and business customers who use the TV and broadband services on a daily basis.

TDC’s B2B business in Norway is also part of the transaction which paired with Telia’s enterprise business will enable converged offerings to B2B-customers.

The acquisition will strengthen Telia Company’s position on the Norwegian market and will position the company as a strong challenger in mobile, TV and broadband.

In 2017 GET and TDC Norway reported revenues of NOK 4 billion and EBITDA of NOK 1.7 billion.