Telia Company closes Denmark sale to Norlys
September 18, 2023
Telia Company has entered into a final and binding agreement to sell 100 per cent of its operations and network assets in Denmark to Norlys at an enterprise value of DKK 6.25 billion (€0.84bn), on a cash and debt-free basis. The valuation is equivalent to 8.9x Telia Denmark’s 2022 reported EBITDA.
Telia said the transaction, first announced in April, is in line with itss strategy to focus on markets in which there is a clear path to securing and defending leading market positions.
The transaction is subject to approval from Norlys’ owners and customary regulatory approvals, with closing expected in Q1 2024 at the latest.