Telia Company, the Swedish telco, has notified the European Commission of its acquisition of Bonnier Broadcasting.
Telia announced the acquisition of Bonnier Broadcasting including brands TV4, C More and Finnish MTV, from Bonnier AB for SEK 9.2 billion (€0.88bn) on a cash and debt free basis, on July 20th 2018. The acquisition is fully in line with Telia Company’s strategy and ambition to offer more to the customers, and combines Telia Company’s mobile and fixed network with one of the most successful commercial media-houses in the Nordics.
The Commission will now analyse the competition aspects of the transaction in a phase 1 investigation. The process which normally lasts for 25 working days will either result in a clearance of the acquisition, or in a continued in-depth phase 2 investigation.
Telia Company expects to be able to complete the acquisition of Bonnier Broadcasting during the second half of 2019.