Press release
Telia Company has closed the sale of its TV & Media business to Schibsted, first announced on February 25, at an enterprise value of SEK 6.55 billion on a cash and debt-free basis. Through a multi-year distribution partnership, Telia will continue to include TV4 and MTV's content in its award-winning consumer TV offerings.
Patrik Hofbauer, Telia Company President and CEO: "This is our latest milestone in creating a simpler Telia. We're focused on growing where we're strongest - delivering world-class connectivity to millions of customers - and will continue to manage our portfolio actively. On behalf of everyone at Telia, I wish the TV & Media team all the best in their new home at Schibsted, a long-term Nordic owner that can further develop the business while maintaining its editorial independence."
Telia intends to use the transaction proceeds for deleveraging purposes. Following the closing of the transaction, Telia's net debt/adjusted EBITDA is in the lower end of its 2.0-2.5x target range.
NOTES TO EDITORS
For more information, contact Telia Company's press office on +46 (0)771 77 58 30, visit our newsroom and follow us on LinkedIn. To download our logo, high-resolution images of Telia leaders, offices and solutions, or B-roll footage for editorial use, visit our media bank.
ABOUT TELIA
Telia Company (STO: TELIA) is a leading telecommunications operator in the Nordic and Baltic regions. Every day, we deliver world-class connectivity and communications services to millions of customers through our sustainable and secure networks - enabling people, businesses and societies to thrive and grow. Our unique position at the center of digitalization shapes our ambition to be a trusted and progressive partner and gives us our purpose: to reinvent better connected living. Find out more at www.teliacompany.com.
