Telia expects to settle the deal with shareholders on 6 February for about €293.56 million
Telia Company has followed through its the public offer of SEK 3.1 billion (€293.56 million) in cash to shareholders of Bredband2 i Skandinavien made last July. Bredband2 is a publicly traded company with major institutional shareholders such as Alcur Fonder and ODIN Forvaltning.
Telia has now fulfilled all the conditions for completion of the offer. It received clearance from the Konkurrensverket (Swedish Competition Authority) just before Christmas after an extensive investigation into the proposed deal, concluding that as owner of Bredband2, Telia would continue to face effective local and national competition.
Former rival
Bredband2 is one of the largest providers of fibre (up to 10Gbps) to private and corporate customers in Sweden. It owns, builds and manages regional and national networks, with a focus on secure connectivity.
It offers tailored data comms, security solutions (VPN) and enterprise services to businesses, as well as data centre solutions such as storage and back-up. It also provides IP telephony, SIP Trunking, IP Centrex and TV services.
By the end of January, Telia secured the agreement of stakeholders who own about 96.7% of the shares to proceed with acquiring Bredband2. Settlement is expected by 6 February, but the acceptance period will remain open until 13 February for oustanding shareholders to tender their shares.
Conditions met
Patrik Hofbauer, President and Chief Executive Officer at Telia (pictured), comments, “We are very pleased that the Offer has been accepted to such an extent that we now control more than 90 percent of the shares and votes in Bredband2. Against this background, Telia will initiate compulsory redemption of the remaining shares.
“To provide remaining shareholders time to accept the Offer and receive immediate liquidity, we have decided to extend the acceptance period until February 13, 2026. We very much look forward to working together with Bredband2’s management and employees to continue developing the company and create long term value for customers.”
