Stofa pulls out of Canal Digital cable acquisition

Stofa’s planned acquisition of the Danish cable operations of Canal Digital has fallen through because of competition concerns.

In January, Ratos-owned cable operator Stofa agreed to pay DKK100 million (€13.4 million) for the Danish cable division of the Nordic pay TV provider. However, it said the deal was unlikely to get past Denmark’s competition authority and has therefore pulled out of the deal.

“It’s obviously disappointing that we have not reached our goal during discussions with the Competition Authority and therefore we have to stop the acquisition process,” said Ratos CEO Arne Karlsson.