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.