Ice Group ASA: Final decision on deferment of spectrum payments
Reference is made to the release published 18 May 2020 regarding a possible deferment of planned spectrum payments following the Covid-19 outbreak and the release published 4 June 2020 regarding ESA approval of the proposed deferments. The Ministry of Local Government and Modernisation has on 1 July 2020 made a final decision regarding the proposed deferments in line with the information given in previous releases.
- The payment of NOK 303 million from last year's spectrum auction of 700 MHz and 2.100 MHz will be deferred from 1 November 2021 until 1 November 2025.
- The spectrum charges due to be paid 1 February 2021 and 1 February 2022, will be deferred until 1 February 2025
- Ice Group commits to investing NOK 259 million in telecommunications infrastructure in the years 2020-2022
In total this will have a positive liquidity effect for Ice Group of approximately NOK 550 million.
“The decision of deferment of spectrum payments is a solid proof of the support from the Norwegian government in realizing three mobile networks in Norway. The deferments have a very positive cash flow effect for Ice and gives us the opportunity to continue to invest heavily in mobile infrastructure in the coming years, to the benefit of Norwegian consumers,” Eivind Helgaker, CEO of Ice Group ASA says.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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About Ice Group ASA
Ice Group is a telecommunications company with a nationwide network in Norway. The company operates a pure 4G mobile network, providing smartphone, m2m, IoT and mobile broadband services to B2C and B2B customers.