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Norway/Sweden: Telia faces antitrust investigation of US$954M Bonnier deal

 |  May 9, 2019

Nordic telecoms operator Telia’s close to $1 billion bid for Bonnier Broadcasting faces a full-scale EU antitrust investigation after failing to address competition concerns, two sources familiar with the matter said on Thursday.

Telia announced the deal, worth 9.2 billion Swedish crowns ($954 million), in July last year as the company looks to expand its media business as telecoms groups spend heavily to capitalize on changing television viewing habits.

The rise of streaming services from big internet players such as Netflix and Amazon has spurred telecoms companies to follow their lead.

Owned by a prominent Swedish family, Bonnier’s brands include Sweden’s biggest commercial broadcaster, TV4, and streaming service C More and Finnish MTV. It competes with state broadcaster SVT.

Full Content: Reuters

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