Nordic telecoms operator Telia has announced the acquisition of Bonnier Broadcasting, owner of Swedish TV channel TV4, C More and Finnish MTV. The acquisition, which is to the value of SEK 9.2 billion, is subject to regulatory approval. Telia has operations in Denmark, Finland, Norway and Sweden.
Telia’s acquisition of Bonnier Broadcasting marks the latest in a wave of M&A activity in the Nordic region. Earlier this week, Telia acquired TDC’s Norwegian operations, which include TDC’s consumer fixed broadband and pay TV brand, GET. TDC’s sale of its Norwegian operations follows its own M&A activity. In February 2018, TDC announced the acquisition of Modern Times Group’s (MTG) Nordic Entertainment business. However, shortly after this announcement, TDC withdrew its offer for MTG and stated TDC would be acquired by investment firm Macquarie.
This flurry of M&A activity in the region started in Sweden when, in January 2018, Tele2 and Com Hem announced their intention to combine their businesses, creating an integrated fixed and mobile operator.