Telenor and TeliaSonera withdraw from merger in Denmark

(Fornebu, 11 September 2015) Telenor and TeliaSonera today announce the withdrawal of the proposed merger of their respective business units in Denmark. The companies have not been able to agree with the European Commission on acceptable conditions to go ahead with their plan to create a robust mobile operator.

In December last year, Telenor and TeliaSonera reached an agreement to merge their Danish operations. The new joint venture would have created a mobile operator that would be able to increase investments in networks and technology, to the benefit of the Danish customers.

"Since the beginning, we have been strong advocates for the need to increase investment levels in Denmark. In our view, creating a market player with the scale and ability to compete and invest would ensure that customers and businesses would benefit from better quality, speed and coverage," says Robert Andersson, Executive Vice President and Head of Region Europe in TeliaSonera.

However, the merger discussions have now reached a point where it is no longer possible to gain approval for the proposed transaction.

"In the interests of both companies, we felt it necessary to act decisively. Telenor and TeliaSonera will continue to compete and deliver products and services in the Danish market through our respective original, and still fully up-and-running Danish operations," says Kjell Morten Johnsen, Executive Vice President and Head of Telenor Region Europe.

Telenor and TeliaSonera now continue to review the strategic options in the Danish market.

Contact:

Severin Roald:
SVP and Head of Group Communications
Mobile: +47 920 30 033
severin.roald@telenor.com

Meera Bhatia:
Communcations Manager
Telenor Group
+47 468 44 959
meera.bhatia@telenor,com