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Norway,Sweden : TELIASONERA agrees to acquires TELE2 for 5.1 billion SWEDISH KRONOR [TendersInfo (India)](TendersInfo (India) Via Acquire Media NewsEdge) TeliaSonera agreed to acquire Tele2 Norway for 5.1 billion Swedish kronor ( 547.7 million). The deal sees TeliaSonera offer services in Norway under the NetCom brand, increase its customer base to 2.7 million from 1.6 million, which gives it a market share of 40%. Telenor will remain the country's largest telco with 3.2 million customers. The combined strength will create a company that is able to serve Norwegian mobile customers and businesses. Tele2's exit from Norway has been on the cards since it failed to secure additional LTE spectrum at a auction. In February, it suspended its 3G network while it looked for a long-term solution, and in March it hired local investment bank ABG Sundal Collier to help with a strategic review. Norway has 2 strong operators, plus a very small outfit with lots of spectrum, little infrastructure and few customers. So the deal reduces the number of mobile network operators to 3 from 4. One of those, ice.net, entered the market through the auction and offers mobile data services. The deal is subject to approval from the Norwegian Competition Authority (NCA); it is unclear how much attention the European Commission will pay to the acquisition. Norway is not a member of the European Union, it is a member of the European Free Trade Area (EFTA), which includes rules on competition. (c) 2014 Euclid Infotech Pvt. Ltd. Provided by SyndiGate Media Inc. (Syndigate.info). |