Swedish telecoms firm, Tele2 announced that it successfully has completed the acquisition of TDC Sweden, for SEK 2.9 billion on cash and debt free basis. Early last month, the Operator received clearance from the European Commission to acquire TDC Sweden.
Tele2 which offers mobile services, fixed broadband and telephony, data network services, content services and global M2M/IoT solutions, claims that it has 17 million customers in 9 countries.
Tele2 estimates that operating cost and capital expenditure synergies will amount to approximately 300 million Swedish crowns each year, with additional one-off capital cost savings of 200 million.
The acquisition allows Tele2 to become a stronger player in the strategically important B2B segment in its home market Sweden. TDC Sweden is a highly successful provider of B2B services in Sweden, serving both the public sector and many Swedish blue chip customers with their entire end-to-end connectivity and communication needs. TDC Sweden has a strong position in attractive product segments, and a solid track record of profitable growth, delivering net sales in 2015 of SEK 3.4 billion and an EBITDA of SEK 0.4 billion.