Telia Company has entered into a final and binding agreement to sell its operations and network assets in Denmark to Norlys at a valuation of DKK 6.25 billion

Telia Company today announces it has entered into a final and binding agreement to sell 100% of its operations and network assets in Denmark to Norlys a.m.b.a. (Norlys) at an enterprise value of DKK 6.25 billion, on a cash and debt-free basis. The valuation is equivalent to 8.9x Telia Denmark’s 2022 reported EBITDA. The transaction, first announced on April 25, 2023, is in line with Telia’s 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.

Telia intends to use the transaction proceeds for deleveraging purposes.

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