Telia completes sale of 49% of Norwegian, Finnish towers

Telia Company has today completed the divestment of 49 percent of its tower business in Finland and Norway, to Brookfield and Alecta, as all regulatory approvals have been received.

On June 30, 2021, Telia announced the sale of 49 percent of its tower business in Finland and Norway to Brookfield and Alecta, at a price corresponding to an enterprise value for 100 percent of the shares of EUR 1,524 million on a cash and debt free basis. The price represents a FY 2020 EV/EBITDA multiple of 27x.

Allison Kirkby, Telia Company President & CEO, says: “The transaction clearly demonstrates the immediate value of, and our leadership in, digital infrastructure. Now we enter into a strategic partnership with Brookfield and Alecta to continue developing our digital infrastructure. Telia, Brookfield and Alecta have a long-term, industrial view on the role of tower infrastructure as a foundation for continued digitalization of the Nordic and Baltic regions.” CT Bureau