Mergers: Commission clears acquisition of joint control of Telia Towers and its subsidiaries by Brookfield and Telia Company
Daily News 30 / 09 / 2021
Source: European Commission Spokesperson's Service
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Telia Towers AB of Sweden and its subsidiaries Telia Towers Finland Oy and Telia Towers Norway AS, by Brookfield Asset Management Inc of Canada and Telia Company AB of Sweden. Telia Towers owns, manages and leases masts and towers for the purposes of placement of communications equipment in Finland and Norway.
Brookfield offers a range of public and private investment products and services, focused on real estate, infrastructure, renewable power and private equity. Telia Company provides mobile and fixed telecommunications services, as well as broadband and television services in Denmark, Estonia, Finland, Latvia, Lithuania, Norway and Sweden. The Commission concluded that the proposed acquisition would raise no competition concerns, given that there are no overlaps between the activities of the companies.
The transaction was examined under the simplified merger review procedure.