Telia to Sell Denmark Operations Valued at DKK6.25 Billion to Norlys
By Kyle Morris
Telia Co. AB said Tuesday that it has agreed to sell its operations and network assets in Denmark to Norlys for an expected 6.25 billion Danish kroner ($926.3 million).
The transaction is in line with the strategy to focus on markets where there is a path to securing and defending leading market positions, it said. The deal is subject to signing final and binding agreements and customary regulatory approvals, with closing expected in the first quarter of 2024.
"The transaction crystallizes value from both the outstanding work of the Telia Denmark team who have led such an impressive turnaround of the business during the last 18 months, and from the leading 5G digital infrastructure that we have built up in the country," Telia President and Chief Executive Allison Kirkby said.
Write to Kyle Morris at kyle.morris@dowjones.com
(END) Dow Jones Newswires
April 25, 2023 13:11 ET (17:11 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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