The Norwegian Competition Authority approves Telia Company’s acquisition of
GET
and TDC Norway.
“I am pleased that the Norwegian Competition Authority sees
the advantages with
this transaction. It will create a leading convergent
operator for both
consumers and enterprises in Norway which can compete in the
market with a lot
of attractive and new products and services. This transaction
is beneficial for
the Norwegian customers and society. I warmly welcome GET’s
and TDC Norway’s
employees to Telia Company,” says Johan Dennelind, President
and CEO of Telia
Company.

The purchase price of NOK 21 billion corresponds to
an EV/EBITDA multiple of
12.1x based on 2017, and 9.0x including expected
synergies. Telia Company
expects to generate full run rate synergies of NOK 0.6
billion by 2021 from B2C
and B2B cross-sales, churn reduction and other cost
efficiencies. The
acquisition is estimated to incur integration costs during
2019 and 2020 of
approximately NOK 200 million annually.

The merged companies
will have about 2.3 million mobile customers, and about 1.8
million people will
use GET’s and TDC Norway’s broadband and TV services on a
daily basis.

Telia
Company will close the transaction on October 15, 2018. Get and TDC Norway
will
be consolidated into Telia Company’s reporting as of November 2018.


For more
information, please contact our press office +46 771 77 58 30, visit
our
Newsroom (http://www.teliacompany.com/en/news) or follow us on
Twitter
@Teliacompany (https://twitter.com/Teliacompany).

Forward-Looking
Statements
Statements made in the press release relating to future status or
circumstances,
including future performance and other trend projections are
forward-looking
statements. By their nature, forward-looking statements involve
risk and
uncertainty because they relate to events and depend on circumstances
that will
occur in the future. There can be no assurance that actual results
will not
differ materially from those expressed or implied by these
forward-looking
statements due to many factors, many of which are outside the
control of Telia
Company.

We’re Telia Company, the New Generation Telco. Our
approximately 20,000 talented
colleagues serve millions of customers every day
in one of the world’s most
connected regions. With a strong connectivity base,
we’re the hub in the digital
ecosystem, empowering people, companies and
societies to stay in touch with
everything that matters 24/7/365 - on their
terms. Headquartered in Stockholm,
the heart of innovation and technology,
we’re set to change the industry and
bring the world even closer for our
customers. Read more at www.teliacompany.com