Telia bags GET and TDC Norway for €2.2 billion to bolster convergence game

Telia has announced the acquisition of GET and TDC Norway for roughly €2.2 billion as the telco looks to strengthen its hand in the convergence business.

The Norwegian business of Danish operator TDC encompasses GET, a provider of fixed and TV services, as well as the B2B business in Norway. The team claims there are more than 518,000 households and businesses connected to the fiber-based network, as part of a total of one million private and business customers who use the TV and broadband services.

“It is with great excitement and commitment that we announce the agreement to acquire GET and TDC Norway,” said Johan Dennelind, President and CEO of Telia.

“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. We are building a great company with passionate employees where we have invested heavily in our mobile network which now covers 98 percent of the country. As part of Telia Company, GET will continue to invest in the rollout of broadband and fiber.”

Telia has been making progress in the Norwegian market with 2.3 million mobile subscriptions, a market share of roughly 42%, with the company’s 4G network covers 98% of the country. Telenor is leading the country’s mobile stakes, though investment in fibre and video assets will certainly give Telia impetus to make moves in the market.