EC clears Tele2’s buyout of TDC Sweden

The European Commission has cleared Sweden-based telecom operator Tele2’s SEK2.9 billion (€311 million) buyout of TDC Sweden.

In a statement, Tele2 said it will now work towards closing the transaction by the end of the month and that the deal will allow it to become a stronger player in the business-to-business segment in its home market of Sweden.

“We are delighted to have received clearance to proceed with the acquisition of TDC Sweden,” said Tele2 president and CEO, Allison Kirkby.

“This acquisition is consistent with our strategy to be champions of customer value for both consumers and businesses, allowing us to serve our large B2B customers with a stronger and wider range of communication and network services.”

Tele2 Sweden CEO, Samuel Skott, said: “I am truly excited to now be able to start combining the strengths of Tele2 and TDC Sweden. Together, we will be a challenger, offering a more comprehensive product portfolio. The unique complementary profiles of the two companies will enable us to provide our customers with even greater value going forward.”

Tele2 first agreed to buy Denmark-based TDC Group’s Swedish subsidiary in June. The deal will see it acquire TDC Sweden’s customers, over 800 employees and the company’s local infrastructure.