Telia Company has divested its entire holding in Spotify in several steps over some time for USD 272 million, approximately SEK 2.3 billion, to institutional investors. The parties have concluded their successful strategic partnership.
Telia Company and Spotify share a long history together. The two companies teamed up already in October 2009 through an exclusive agreement whereby Telia included Spotify Premium in its offerings. See also: 7 Best Spotify Promotion Services
The partnership was expanded in June 2015 when Telia Company invested USD 115 million in Spotify.
During the strategic partnership Telia Company has worked closely with Spotify and gained valuable insights into several important areas including the launch of the service Telia CoPlay, which is made available under a home broadband concept called Telia Zone.