STOCKHOLM, Sweden-Swedish telecommunications operator Telia reported it acquired more than 51 percent of Norwegian mobile operator Netcom ASA for $2.5 billion.
Telia said the acquisition will strengthen its competitiveness in the Nordic region, with the combined company controlling about 28 percent of the Nordic mobile market. Netcom is the second-largest mobile operator in Norway with approximately 750,000 customers and a market share of 28.6 percent at the end of the first quarter of 2000.
“Netcom is an ideal partner for Telia and has a good market position, a strong brand and operations on a high technological level,” said Jan-Ake Kark, chief executive officer of Telia. “The acquisition strengthens Telia’s competitiveness in the Nordic region and provides synergies in production, the development of services and investments.”
Kark also noted the acquisition consolidates Telia’s position as an attractive partner for content service providers in the Nordic mobile market.
