EQT acquires Swedish cable operator Com Hem from TeliaSonera
Private equity firm EQT Group has agreed to purchase Sweden's leading cable television operator Com Hem from TeliaSonera for SEK 2.15 billion.
EQT Northern Europe private equity fund has signed an agreement with TeliaSonera to acquire Sweden's leading cable TV operator Com Hem for SEK 2.15 billion. The acquisition is subject to regulatory approval.
Com Hem serves 1.4 million households with its basic tier TV offering and provides approximately 70 pay TV channels. The network is 90% upgraded for digital TV transmission. Recent investments enable broadband internet access for over 500,000 households, with 72,000 broadband subscribers as of December 2002.
The company reported net sales of SEK 1.07 billion in 2002 and employs approximately 250 people at its Stockholm headquarters. EQT highlighted Com Hem's market-leading position and potential for revenue growth through its technology and product offerings in both cable TV and broadband.
EQT intends to continue developing the cable TV offering, invest in and grow the broadband segment, and introduce new products and services. The firm stated it has significant experience in the Swedish cable industry from its previous ownership of StjärnTV.