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Sweden's Tele2 and Com Hem to Merge in $3.3bn Deal

6 months ago
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Sweden's Tele2 and Com Hem to Merge in $3.3bn Deal

Tele2 Group and leading cable TV provider in Sweden, Com Hem have agreed to merge both companies to create a leading integrated connectivity provider in a SKr27bn ($3.3bn) deal.

The merger will create an integrated operator by combining their mobile networks with the national fixed network and the widest range of content in the market. Therefore, the enlarged Tele2 will be well equipped to meet the evolving customer needs for seamless connectivity and digital services. 

The new company would be able to sell mobile telephony services to Com Hem’s household customers, while Tele2 would add fixed-line connectivity and TV services to its range of products.

At completion of the merger, Anders Nilsson will become the CEO of the enlarged Tele2 to drive the combined company through its next phase of growth. Expected total annual opex, capex and revenue synergies of around SEK 900 million to be achieved within five years. 

Allison Kirkby, CEO, Tele2
Enlarged Tele2 will be able to provide a wide range of complementary connectivity and digital services; a base that makes us well positioned to act as a customer champion in an increasingly integrated world.

Anders Nilsson, CEO of Com Hem 
Merging is the best possible next step for both companies as it will enable us to meet the demands of tomorrow and unleash the power for the best possible digital quality of life in Sweden. 

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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