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Telenor seeks TeliaSonera merger

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06:56 CEST+02:00
Norwegian telecom operator Telenor is aiming for a merger with TeliaSonera and has engaged the services of Nordea and JP Morgan to analyze a possible deal, reports the Svenska Dagbladet newspaper.

In its report, the paper cites “people with insight into the process”.

France Télécom’s recent expression of interest in the Swedish-Finish TeliaSonera has forced Telenor to take a position on the deal, and according to the newspaper’s sources, there is a continuing dialogue between the two Scandinavian telecom operators in which different possibilities are being discussed.

The first contacts for this round of talks took place a year ago and TeliaSonera’s former CEo Anders Igel is said to have favoured a merger.

One of the reasons behind possible deal is growth in Eastern Europe and Asia, where both companies are firmly anchored. The merged company would also control 64 percent of the Swedish market for mobile phone subscriptions.

Nine years ago, Sweden’s Minister of Enterprise at the time, Björn Rosengren, attempted to broker a merger between’s Sweden’s Telia and Telenor, but the deal fell apart.

Telia later combined with Finland's Sonera to form TeliaSonera in 2003.

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