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TeliaSonera sells Danish unit for $187m
09 July 2010
TeliaSonera has offloaded its Danish cable TV business Stofa to a private equity group for $187m
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TeliaSonera
Denmark
Stofa
private equity
Handelsbanken
Söderberg
TeliaSonera has sold its Danish cable TV unit, Stofa, to private equity firm Ratos for $186.6 million. The Swedish-Finnish operator acquired Stofa in 1995, and it has operated as an independent subsidiary of the TeliaSonera Group.
Stofa offers television services, high speed broadband and telephone services to its customers.
After the regulatory approvals, TeliaSonera will recognize a capital gain of more than $85.2 million, which will be reported in the third quarter of 2010.
Stofa offers its services to about 345,000 households in more than 300 antenna associations, through a 2,100 kilometre fibre backbone.
Handelsbanken Capital Market was appointed as financial advisor to TeliaSonera. The agreement is subject to approval of relevant competition authorities as well as TeliaSonera Board.
Ratos is a Swedish private equity company controlled by the Söderberg family. GTB