Norwegian Competition Authority approves of Eltel transaction

The Norwegian Competition Authority has approved the merger between Eltel
Networks AS and Eltel Sønnico AS. This means that one condition for completion
of the transaction, of Eltel acquiring the other half of the JV Eltel Sonnico AS
in Norway from its partner Umoe, is fulfilled. Eltel and Umoe are now in a
process of finalizing certain confirmatory reviews and necessary legal
registrations in Norway before an expected closing of the transaction in the
beginning of September 2015.
On August 10, 2015 Eltel communicated that the company has agreed to acquire the
other half of the JV Eltel Sønnico AS in Norway from its partner Umoe at a price
of NOK 265 million. The JV was formed in the beginning of 2014 to join the
communication businesses of Eltel and Umoe in Norway. After the transaction
Eltel will be the sole owner of the company. The acquisition was subject to the
approval of the Norwegian Competition Authority.

For more information, please contact
Gunilla Wikman, Investor Relations Manager at Eltel AB
Tel: +46 725 843 630, gunilla.wikman@eltelnetworks.se

Hannu Tynkkynen, Senior Vice President, Group Communications at Eltel AB
Tel: +358 40 3114503, hannu.tynkkynen@eltelnetworks.com

About Eltel
Eltel is a leading European provider of technical services for critical
infrastructure networks – Infranets – in the segments of Power, Communication
and Transport & Security, with operations throughout the Nordic and Baltic
regions, Poland, Germany, the United Kingdom and Africa. Eltel provides a broad
and integrated range of services, spanning from maintenance and upgrade services
to project deliveries. Eltel has a diverse contract portfolio and a loyal and
growing customer base of large network owners. The number of employees is
approximately 8,600 and in 2014, Eltel net sales amounted to EUR 1,242 million.
Eltel’s share is listed on Nasdaq Stockholm since February 2015.