Telia Completed Sale of Denmark Business

Network operator Telia said it has completed the sale of its business in Denmark to Noryls for around DKK6.3 billion (€871 million). The cash will be used to cut debt at the operator group.

The deal was announced last April and had been expected to close in the first quarter of 2024. Regulators approved the sale in February. In a statement, Telia explained the move was part of a strategy to focus on markets where there is a clear path to securing and defending leading positions.

Telia president and CEO Patrik Hofbauer called the sale a significant milestone, with its former customers expected to benefit from gaining access to a broader set of products and services from Denmark’s largest integrated energy and telecommunications group. Norlys EVP and chief commercial officer Claus Flyger Pejstrup said it was fantastically gratifying that they now stand with the keys in hand. He added the company is gaining a whole new relevance as a supplier of a full range of energy and telecom products for the home and business.

Alongside expanding its range to include products currently offered by Telia, Norlys plans to use its new 31-strong retail footprint to sell products from the rest of its portfolio. GSMA Intelligence places Telia’s former operation in Denmark as the fourth largest in the country by connections with almost 1.3 million as of 1Q24. The market is led by TDC brand YouSee with 3.3 million, followed by Telenor (1.7 million) and CK Hutchison’s local unit (1.6 million).