The boards of Danish energy company SE, the owner of cable operator Stofa and digital-terrestrial TV operator Boxer Denmark, and another regional energy provider Eniig have approved the proposed merger of the pair to create a new group, Norlys, which will become the country’s largest combined energy and telecom group passing about one million TV and internet homes between them.
Esbjerg-based SE will merge with Eniig, which provides energy and broadband in central and northern Jutland, under SE executive Niels Duedahl, with Eniig’s Martin Romvig becoming deputy CEO.
As part of the merger agreement, the pair said that they will provide high-speed internet to all clients by 2023.
Norlys will generate a turnover of around DKK8 billion (€1 billion) a year and generate operating income of approximately DKK1.9 billion. Between them the pair have energy infrastructure covering approximately 30% of Danish households and broadband networks covering 42%.