Telia Company Sells 49% Stake in Finland and Norway Tower Business for EUR722 Million
June 30 2021 - 4:44AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Swedish telecommunications operator Telia Co. said
Wednesday that it has agreed to sell a 49% stake in its tower
business in Finland and Norway to Brookfield Infrastructure
Partners L.P. and Alecta for 722 million euros ($859.1
million).
Earlier this year, Telia Company announced its ambition to
partner with external parties to further develop its digital
infrastructure assets and crystalize value.
Telia has around 25,000 towers and rooftop sites across the
Nordics and Baltics. Around 4,700 of its towers are in Finland and
Norway and they generated revenue of EUR88 million and earnings
before interest, tax, depreciation and amortisation of EUR56
million in 2020, it said.
The sale price corresponds to an enterprise value of the entire
Finland and Norway tower business at EUR1.52 billion on a cash and
debt free basis.
The transaction is subject to customary regulatory approvals and
closing is expected take place in the fourth quarter of 2021.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
June 30, 2021 04:36 ET (08:36 GMT)
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