Norway: Tele2 exits country after botched spectrum auction

Sweden-based Tele2 has announced that it has sold its Norwegian wireless business, months after its operations in the nation were put into question following a failure to acquire sufficient spectrum at auction.

According to reports, Tele2 will sell its Norway unit to rival TeliaSonera in a deal worth nearly $745 million. Tele2 was forced to reconsider its position in Norway after last December’s spectrum auction. Tele2 failed to purchase key frequencies to continue its operations in Norway’s mobile network, reports say.

Tele2’s exit leaves Norway with just three wireless competitors, TeliaSonera and Telenor, as well as new market entrant Access Industries, which was the cause of Tele2’s failure at auction last year.

Tele2 will need to secure regulatory approval for the sale, and reports say TeliaSonera will likely offer concessions to earn that approval.

Full content: Yahoo News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.