Telia’s $957 million bid for Bonnier secures EU approval


FILE PHOTO: Telia signal is seen on a constructing in Vilnius, Lithuania March 30, 2019. Information/Ints Kalnins

BRUSSELS (Information) – Swedish telecoms operator Telia received conditional EU antitrust approval on Tuesday for its $957 million bid for Bonnier Broadcasting, a transfer permitting it to raised compete with massive web gamers similar to Netflix and Amazon.

The European Fee mentioned Telia had supplied a collection of concessions to handle its considerations, together with media plurality in Sweden and Finland, confirming a Information story on Sept. 2.

Telia pledged to supply rivals truthful, affordable and non-discriminatory entry to its free-to-air and primary pay TV channels, in addition to to premium pay TV sports activities channels in Sweden and Finland, the EU competitors enforcer mentioned.

The corporate additionally agreed to not discriminate towards rival telecom suppliers and TV distributors within the sale of TV promoting house on the merged entity’s channels.

As well as, customers will get entry to the merged firm’s streaming companies over the web, specifically its AVOD and SVOD companies. The pledges are legitimate for 10 years.

Bonnier, which competes with state broadcaster SVT, owns manufacturers together with Sweden’s greatest business broadcaster TV4, streaming service C Extra and Finnish MTV.

Reporting by Foo Yun Chee, enhancing by Louise Heavens