Ice Group divests Swedish operation
Ice Group ASA (“Ice Group”) has entered into an agreement to sell its Swedish business Netett Sverige AB to broadcasting network services company Teracom Group AB (Teracom) for a purchase price of SEK 180 million.
Netett Sverige AB operates under the Net1 brand in Sweden. Net1 offers wireless broadband and fixed voice services (VoIP). The company holds the national license of 2 x 5 MHz in the 450 MHz band until 31 December 2044. In 2018, Netett Sverige AB generated service revenues of NOK 130.4 million and an ebitda-result of NOK 9.5 million.
“Ice Group’s biggest growth potential is in Norway where we are the third biggest mobile network operator, challenging the lucrative, local operator duopoly. Hence, our strategy is to further expand our network in Norway with the objective of further enhancing our customer proposition, competitiveness and overall profitability. In this context, our Swedish operation has become a non-strategic asset. The funds released from the sale will be utilised to further strengthen our Norwegian operation,” says Eivind Helgaker, CEO of Ice Group.
The agreement is expected to be closed shortly.
For further information, please contact:
Investors: Henning Karlsrud, CFO of Ice Group, tel: +47 930 45 389
Media: Endre Aaberg Johansen, Corporate Communications AS, tel: +47 416 10 605, email: email@example.com
About Ice Group ASA
Ice Group is a Scandinavian telecommunications company with nationwide networks within each of its territories. In Norway, the company operates a pure 4G mobile network, providing smartphone, m2m, IoT and mobile broadband services to B2C and B2B customers. Its Norwegian business was the fastest growing mobile network operator in Europe in 2017. Ice Group also offers mobile broadband, m2m and IoT services in Sweden and Denmark through its own network. For more information, see www.icegroup.com.