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Stofa acquires Canal Digital Denmark

Danish cable operator Stofa has acquired Telenor’s Danish cable TV network Canal Digital.

The deal has an enterprise value of DKK51 million (€7 million) and has been financed with available liquid assets in Stofa.

“We are very pleased to be able to carry out this acquisition which opens up significant synergies with our existing operations and will also allow us to reach a larger share of the market with our services,” said Stofa’s CEO Klaus Høeg-Hagensen.

Canal Digital Denmark, supplies services to 20,000 TV customers, 20,000 broadband customers and 6,300 VoIP customers. Sales in 2010 totalled DKK 83 million.