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news

Tele2 receives clearance to acquire TDC Sweden

October 10, 2016 by easyfibre

Tele2 receives clearance to acquire TDC Sweden

Stockholm –Tele2 AB (Tele2), (NASDAQ OMX Stockholm Exchange: TEL2 A and TEL2 B). The European Commission today announced clearance on Tele2’s acquisition of TDC Sweden at an Enterprise Value of SEK 2.9 billion. Tele2 will now work towards closing the transaction by the end of the month.

The acquisition allows Tele2 to become a stronger player in the strategically important B2B segment in its home market Sweden. TDC Sweden is a highly successful provider of B2B services in Sweden, serving both the public sector and many Swedish blue chip customers with their entire end-to-end connectivity and communication needs. TDC Sweden has a strong position in attractive product segments, and a solid track record of profitable growth, delivering net sales in 2015 of SEK 3.4 billion and an EBITDA of SEK 0.4 billion.

Allison Kirkby, President and CEO of Tele2 AB, comments: “We are delighted to have received clearance to proceed with  the acquisition of TDC Sweden. This acquisition is consistent with our strategy to be champions of customer value for both consumers and businesses, allowing us to serve our large B2B customers with a stronger and wider range of communication & network services. The combination of Tele2 and TDC Sweden will therefore unlock significant value for both our customers and our shareholders.”

Samuel Skott, CEO of Tele2 Sweden, comments: “I am truly excited to now be able to start combining the strengths of Tele2 and TDC Sweden. Together, we will be a challenger, offering a more comprehensive product portfolio. The unique complementary profiles of the two companies will enable us to provide our customers with even greater value going forward.”

As previously communicated, the Board of Directors of Tele2 has resolved on a rights issue (“Rights Issue”) of approximately SEK 3 billion with preferential rights to existing shareholders subject to the approval of an Extraordinary General Meeting that will be held October 27. The acquisition of TDC Sweden is not conditional on equity financing, as Tele2 has available funds and existing credit facilities in place to finance the transaction. However, in conjunction with the announcement of the acquisition, Tele2 also communicated the intention to undertake an equity issue with preferential rights for existing shareholders to maintain the Company’s financial strength. The Rights Issue is fully underwritten and has the support of Tele2’s largest shareholder Kinnevik.

Filed Under: Uncategorized

CINIA RECOGNIZED AS ‘HIGHLY COMMENDED’ IN THE EXCELLENCE IN CONNECTIVITY CATEGORY AT DATACLOUD AWARDS 2016

June 13, 2016 by easyfibre

Recognition for High Level of Service Reliability and Availability
Highlights the Benefits of the New Direct Submarine Link between Germany and Finland

Helsinki, Finland and Monte Carlo, Monaco – June 8, 2016 – Cinia Group, Finland-based designer, builder and operator of intelligent connectivity and ICT solutions, was named ‘Highly Commended’ in the Excellence in Connectivity category at Datacloud Awards. The category winner was Equinix, while other shortlisted companies included Level 3 Communications and PCCW Global.

The recognition highlights the successful completion of the ambitious Cinia C-Lion1 submarine data cable with a record-breaking capacity of 144 terabits per second (Tbps). Commercially opened in May and labeled Northern Digital Highway, the new internet backbone directly links key European network nodes such as DE-CIX Frankfurt, the largest internet exchange point in the world, via Finland to Russian and Asian markets.

The award ceremony took place in conjunction with the Datacloud Europe 2016 conference, held in Monaco on June 8-9. The awards ceremony and conference attract data center and cloud players, their customers, investors and suppliers from across Europe and globally.

“Recognition the Datacloud Award is yet another testimony for the significant role of enabling infrastructure in the single digital market in Europe,” said Jukka-Pekka Joensuu, Executive Vice President, Cinia Group. “Providing a secure low-latency platform for data center to data center connectivity, the Northern Digital Highway can efficiently handle increasing requirements driven by cloud computing, big data and digitalization”

The cyber secure C-Lion1 connection enables data center providers to benefit from Finland’s cool climate, strict privacy laws and low energy pricing. Existing interconnections at the Finnish-Russian border allow for direct access to Asia via the so called northern Silk Road route, positioning Finland as the key gateway between the East and the West.

Designed and commissioned by Cinia Group and built in partnership with Alcatel-Lucent Submarine Networks, the Cinia C-Lion1 cable system totals 1,200 kilometers in length and consists of eight optical fiber pairs.

Note to editors: Jukka-Pekka Joensuu of Cinia Group will speak at Datacloud Europe 2016. Titled “Building a Direct Digital Silk Road between Asia and Europe”, his presentation will take place in Datacloud Theatre on June 8th at 5.10 pm, followed by a panel discussion. Please visit www.datacloudcongress.com/programme#june8-datacloud for a detailed agenda and email eeva.liljanto@cinia.fi to set an appointment at the event.

For further information, please contact: www.cinia.fi

Jukka-Pekka Joensuu, Executive Vice President, Cinia Group
Tel. +358 40 179 8855, email jukka-pekka.joensuu@cinia.fi

Eeva Liljanto, Partnership Director, Cinia Group
Tel. +358 50 2166, email eeva.liljanto@cinia.fi

Agency Contact: Juha Frey, Netprofile for Cinia Group
Tel. +358 40 572 4674, email juha@netprofile.fi

Cinia Group creates intelligent connectivity solutions that make the world smaller and your business smarter. We have over 10.000 km of own backbone and we are building international connectivity and sea cable connecting East and West. Our professionals design, build and operate nationally critical systems in open system environment serving many major traffic and energy distribution operators. We have a strategic ambition to build and expand Cloud Backbone to fuel Single Digital Market in Europe and offer system solutions created for private and public sector customers. www.cinia.fi

Filed Under: Uncategorized

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