TeliaSonera gains full ownership in Norwegian retail-chai...

TeliaSonera gains full ownership in Norwegian retail-chain ComHouse

TeliaSonera has acquired the remaining 66.6 percent of the shares in ComHouse, a holding company for the retail chains Klart Svar and Telebutikken in Norway, increasing its holding to 100 percent. The acquisition will allow TeliaSonera’s subsidiary NetCom to further integrate ComHouse’s distribution chains operationally.

TeliaSonera has today signed a Share Purchase Agreement for the acquisition of all outstanding shares in ComHouse AS from MTU Gruppen AS, ComHouse Butikkdrift AS and Com-Invest AS. In March 2006 TeliaSonera bought a minority share of 33.4 percent in the company.

“ComHouse has demonstrated a healthy growth and earnings, and the transaction clearly strengthens TeliaSonera’s distribution strategy in Norway,” says Kenneth Karlberg, President Business Area Mobility Services, TeliaSonera.

The purchase price for 66.6 percent of the shares will be approximately SEK 185 million (NOK 157 million), based on an enterprise value of the entire company of approximately SEK 383 million (NOK 325 million). The final cash consideration will be based on balance as per closing. Closing of the transaction is subject to approval by the Norwegian Competition Authority.

About ComHouse
ComHouse AS is the most important distribution channel for NetCom in Norway. ComHouse consists of the retail chain Telebutikken (65 stores of which 5 are operated through franchise) focused on private customers and the chain KlartSvar (40 locations of which 32 are operated through franchise), which is focused on business customers.