Telia completed the acquisition of GET and TDC Norway for £1.9bn.

Telia has completed its acquisition of GET and TDC Norway. The transaction will position Telia as a strong challenger in mobile, TV and broadband on the Norwegian market. Telia acquired GET and TDC Norway at an enterprise value of NOK 21bn on a cash and debt free basis. The purchase price corresponds to an EV/EBITDA multiple of 12.1x based on 2017, and 9.0x including expected synergies. “It is with great excitement and commitment that we announce the agreement to acquire GET and TDC Norway. It will create a leading convergent operator for both consumers and enterprises in Norway which can compete in the market with a lot of attractive and new products and services. This transaction is beneficial for the Norwegian customers and society. We are building a great company with passionate employees where we have invested heavily in our mobile network which now covers 98 percent of the country. As part of Telia Company, GET will continue to invest in the rollout of broadband and fiber,” Johan Dennelind, President and CEO of Telia.