STOCKHOLM, Sweden--(BUSINESS WIRE)--Regulatory News:
The Swedish State has approved Com Hem’s (STO:COMH) acquisition of Boxer TV-Access AB, a wholly-owned subsidiary of Teracom Boxer Group AB. Com Hem now awaits the Swedish Competition Authority’s approval before the acquisition can be completed.
In June 2016, Com Hem Holding AB (publ) entered into an agreement through its wholly-owned subsidiary Com Hem Communications AB (together “Com Hem”) to acquire Boxer TV-Access AB (“Boxer”), the pay TV operator in the digital terrestrial television (“DTT”) network in Sweden, from the state-owned company Teracom Boxer Group AB (”Teracom”). The acquisition was conditional on approval by the State of Sweden.
The State of Sweden has, through the Cabinet Minister Mikael Damberg, approved the sale of all the shares of Boxer TV-Access AB to Com Hem. Now, only the approval from the Swedish Competition Authority remains in order for the acquisition to be completed. The Swedish Competition Authority has announced that it will make the decision by October 27, 2016.
“We are of course very pleased with the State’s decision and look forward to a positive response from the Swedish Competition Authority as well” says Anders Nilsson, CEO of Com Hem.
Com Hem has previously announced its acquisition of Boxer on June 8, 2016.
About Com Hem
Com Hem offers broadband, TV, play and telephony services to Swedish households and companies. Approximately 40 percent of the country’s households are connected to Com Hem’s network, making Com Hem an important driver of digital Sweden. We offer broadband speeds of up to 1 Gbit /s and a wide range of channels via digital TV at home or mobile via Com Hem Play. The company was founded in 1983 and has approximately 1,200 employees including about 700 within customer service. Com Hem is headquartered in Stockholm and operates through three subsidiaries; Com Hem AB, Phonera Företag AB and iTUX Communication AB. In 2015, Group sales totaled SEK 5,000 million. Since 2014 the Com Hem share is listed on Nasdaq Stockholm. www.comhemgroup.se.
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