Telenor and TeliaSonera agreed to merge their Danish operations into a new joint venture where the parties will own 50 percent each.
The new company will have a combined mobile subscriber base of around 3.5 million for a combined mobile subscriber market share of approximately 40%, revenues of more than DKK 9 billion.
The companies said the merger will likely yield annual efficiency gains of above DKK 800 million, with full effect from 2019.
“Competition in Denmark is intense and we face continued pressure on revenue growth and profitability, making consolidation inevitable. By combining the assets and customer bases of Telenor and TeliaSonera in Denmark, the joint venture will become a robust operator. We will be able to offer our customers a high-quality network with outstanding connectivity and the best customer experience in Denmark,” says Kjell Morten Johnsen, EVP and Head of Telenor Region Europe.
- TDC currently holds about 41% share of the mobile subscribers in Denmark.
