Telenor Group is selling its 50% stake in Allente to Viaplay for SEK 1.1 billion. Allente, created in May 2020 from the merger of Canal Digital and Viasat, offers premium TV content to residential and business customers across the Nordics. The deal will not impact the quality of service for customers.
Since its founding, Allente has delivered high-quality services and paid SEK 4.4 billion in dividends. And with an enterprise value of SEK 3.1 billion, the total cash amount to Telenor is SEK 1.1 billion.
The deal is expected to close within six to nine months, subject to regulatory approvals in Norway, Sweden, and Denmark.
KEY QUOTES:
“We are proud of what has been accomplished together with Allente and Viaplay over the past five years. As the company enters its next chapter, there is a better fit with Viaplay’s strategy than with Telenor’s. We’re confident the company will be in the right hands going forward.”
Dan Ouchterlony, EVP of Telenor Amp
“We have had a mutually beneficial cooperation with Telenor over the years, and we are excited to take full ownership of Allente. Building on the strong foundation we’ve created together, we look forward to further enhancing Allente’s offerings and delivering top-notch entertainment experiences to our customers.”
Jørgen Madsen Lindemann, President & CEO of Viaplay Group
