Telenor today acquired all the shares in the cable TV operator Sweden On Line. The purchase price for the entire company amounts to SEK 195m. Ratos's holding in Sweden On Line is 50%. The deal is subject to approval from the Competition Authority.
"Having Telenor as its owner will give Sweden On Line major opportunities to develop and offer its customers advanced broadband services," says Ratos's CEO Arne Karlsson.
The book value of Ratos's holding in Sweden On Line amounted to SEK 125m on 30 June 2001. Today's deal means that Ratos makes an exit loss of SEK 28m.
Sweden On Line is Sweden's fourth largest nationwide cable TV operator with a subscriber base of approximately 185,000 households. In recent years the company's operator activities have been complemented with a number of new Internet and data communications services. A nationwide broadband network allows continuous development and distribution of new applications within both television and information technology, as well as remote control technology. Sweden On Line's customers comprise landlords, tenant-owner associations, municipalities and companies.
The company has some 35 employees and in 2000 sales amounted to just over
SEK 120m with a profit before tax of SEK 12m.
For further information, please contact:
Arne Karlsson, CEO Ratos, +46 8 700 17 00