STOCKHOLM, Sweden, April 23, 2003 (PRIMEZONE) -- TeliaSonera (LSE:TLSNq) (Nasdaq:TLSN) has today signed an agreement to sell com hem AB to EQT Northern Europe for MSEK 2,150.
com hem is the largest cable television operator in Sweden, providing cable television services to approximately 1.39 million households. The company also provides pay television (including pay per view) and broadband internet access services. In fiscal year 2002, com hem generated EBITDA of MSEK 53 on turnover of MSEK 1,071.
EQT is a northern European private equity group that was established in 1994 and consists of five private equity funds, of which one is EQT Northern Europe, with total equity commitments exceeding EUR 3 billion.
Telia agreed to dispose of com hem as part of its undertakings to the European Commission in the context of the merger between Telia and Sonera. The disposal is expected to generate a capital gain in excess of MSEK 1,600 for TeliaSonera and a positive one off cash flow effect of more than MSEK 1,900.
Completion of the sale is conditional upon approvals by the European Commission and relevant competition authorities, which is expected within the first half-year of 2003.
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