Danish telecoms operator TDC has agreed a takeover of Swedish Modern Times Group’s (MTG) Nordic TV business. The deal values the MTG assets at SEK 19.55 billion (ed.), which TDC will pay through the issue of new shares and SEK 3 billion in cash.
This is the first major deal in the Nordic region in which an operator acquires a content provider but follows an international trend in which the lode star is convergence and where operators court media companies in the hope of creating unique offers. The main example is AT&T’s attempt to acquire Time Warner, writes business daily Dagens Industri.
TDC, a provider of mobile telephony, TV, broadband and fixed telephony in Denmark and Norway, hopes to attract customers by offering MTG’s sports rights, which include football’s Champions League and Premier League.
There has been speculation that Telia Company has been planning a bid for TDC, but the likelihood of this has fallen following yesterday’s announcement.
We are a small, but qualified team of graduates in politics, economics, English and classics dedicated to providing quality news digests in English that offer readers a first-hand look at the most important topics covered by the Swedish press. Here you will find a selection of the articles that are published in our Swedish Press Review.