The European Commission has approved the merger of Tele2 AB’s Dutch operations (“Tele2 NL”) and T-Mobile Netherlands without conditions. The combined company will create a strong alternative to the incumbents for Dutch consumers and businesses.
The merger between Tele2 NL and T-Mobile NL was announced on December 15, 2017, and has since gone through a regulatory process including a Phase II investigation by the EC. Following constructive discussions between the two merging companies and the EC, the merger was approved today with no requirement to offer remedies.
“I am delighted that the EC has unconditionally approved our merger in the Netherlands. We are excited to partner with T-Mobile to form a strong customer champion which will accelerate competition and investment in the Dutch market ”, says Anders Nilsson, President and CEO of Tele2.
“Our partnership with T-Mobile will create a force to be reckoned with in the Netherlands, with Tele2’s strong brand and fixed assets complementing T-Mobile’s world-class mobile network. I am immensely proud of the performance of the Tele2 team, who have continued driving the business with great energy. Now our focus will be on ensuring a successful integration for both customers and employees”, says Jon James, CEO of Tele2 Netherlands.
The merger is expected to close at the beginning of January 2019. The combined company will continue to operate the Tele2 brand in the Netherlands. Tele2 will hold a 25 percent share in the combined company and receive a cash payment of around EUR 190 million upon closing, subject to standard closing adjustments.
Ever since Jan Stenbeck founded the company in 1993, it has been a tough challenger to the former government monopolies and other established providers. Tele2 offers mobile services, fixed broadband and telephony, data network services, content services and global IoT solutions.
Every day 17 million customers across eight countries enjoy a fast and wireless experience through the company’s award winning networks. Tele2 has been listed on Nasdaq Stockholm since 1996.
