Feeds

Voda flogs Swedish operation

After all, it makes sense

Business security measures using SSL

Vodafone is flogging its Swedish operation to Telenor for around €1bn (£700m) because it "makes sense".

The deal, announced yesterday afternoon, sees the UK-based mobile giant selling its 100 per cent stake in Vodafone Sweden to the pan-Nordic telco and the largest provider of telecoms services in Norway.

If all goes to plan and the deal secures the necessary regulatory approval, it should be completed by the end of the year.

So why is Vodafone bailing out of Sweden? Well, it seems that the Swedish mobile market is becoming increasingly competitive.

And Vodafone execs reckon that those likely to do well in the region need a "Nordic footprint". Which is handy since Telenor, which has operations in Norway, Sweden and Denmark, is well placed in that market.

"We have a good business in Sweden," said Vodafone chief exec Arun Sarin, "but the particular industry structure and regulatory environment means that it makes more sense for our customers, our employees and our shareholders for a pan-Nordic player like Telenor to own the company."

Vodafone Sweden has around 1.5m punters and generated some €703m in revenue in the 12 months to March. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.