HomeNewsTelia sells minority stake in Norwegian and Finnish towers

    Telia sells minority stake in Norwegian and Finnish towers


    The operator group sold 51% of the minority stake to infrastructure fund Brookfield and 49% to pension firm Alecta

    Telia Company divested 49% of its tower business in Finland and Norway, to Brookfield and Alecta, having gained all regulatory approvals for the deal which was announced on 30 June 2021.

    Telia announced the sale of 49% of its tower business in Finland and Norway to the two at a price putting the enterprise value for 100% of the shares of  €1.524 billion on a cash and debt free basis.

    The price represents a FY 2020 EV/EBITDA multiple of times 27.

    Allison Kirkby, Telia Company President & CEO (pictured), says: “The transaction clearly demonstrates the immediate value of, and our leadership in, digital infrastructure. Now we enter into a strategic partnership with Brookfield and Alecta to continue developing our digital infrastructure.

    “Telia, Brookfield and Alecta have a long-term, industrial view on the role of tower infrastructure as a foundation for continued digitalisation of the Nordic and Baltic regions.

    Brookfield invested through its core-infrastructure fund; Alecta manages the occupational pensions of 2.6 million private individuals and 35,000 companies in Sweden.