TeliaSonera Buys Norwegian Retail Chain
TeliaSonera says that it has acquired the remaining 66.6 percent of the shares in ComHouse, a holding company for the retail chains Klart Svar and Telebutikken in Norway, increasing its holding to 100 percent. The company said that the acquisition will allow TeliaSonera’s subsidiary NetCom to further integrate ComHouse’s distribution chains operationally.
In March 2006 TeliaSonera bought a minority share of 33.4 percent in the company.
“ComHouse has demonstrated a healthy growth and earnings, and the transaction clearly strengthens TeliaSonera’s distribution strategy in Norway,” says Kenneth Karlberg, President Business Area Mobility Services, TeliaSonera.
The purchase price for 66.6 percent of the shares will be approximately SEK 185 million (US$30.6 million), based on an enterprise value of the entire company of approximately SEK 383 million (US$63.3 million).
Posted to the site on 17th June 2008