Telenor/Telia announces the appointment of NM Rothschild & Sons ("Rothschild") and D. Carnegie AB ("Carnegie") as joint advisers on the sale of their respective cable TV businesses, TIMTV and Telenor Avidi. Disposal of those businesses is a condition of EU approval of the merger between the two parent companies. [Not for release, publication or distribution in or into the United States of America, Australia,Canada or Japan]
TIMTV and Telenor Avidi are leading cable operators in, respectively, Sweden and Norway and represent key strategic opportunities for investors in these strong and dynamic markets. The current shareholders have already received a strong level of interest and expect this to grow as the sales process develops.
Telenor/Telia and its advisers expect the sale to be completed in the early part of 2000.
NOTES FOR EDITORS
1. Telenor/Telia is the sixth largest telecommunications company in Europe and the leading telecom services provider in Norway and Sweden. The Groups goal is to expand internationally in areas in which the Group possesses world-leading competence, such as mobile communications and Internet-based services. The Telenor/Telia Group has 51,000 employees.
3. TIMTV, which trades as com.hem currently has more than 1,330,000 customers. 1,1 million homes in its networks have been upgraded to provide digital TV and 125,000 are capable of receiving fast Internet services. It is the largest cable operator in Sweden with customers in Stockholm, Gothenburg and Malmoe.
4. Telenor Avidi has more than 270,000 customers and is Norways second largest cable TV provider with 39 percent market share.