HELSINKI (AP) — Danish TDC telecom group says it plans to acquire Norway's leading cable TV company Get AS, in a deal valued at 13.8 billion kroner ($2.2 billion).
TDC says the transaction would provide "considerable synergy opportunities" and will make it Scandinavia's largest communication and home entertainment company with some 1.7 million households in Denmark and Norway.
TDC has around 1.2 million TV customers of whom about 500,000 are also broadband customers, while Get serves 500,000 households and businesses in Norway.
TDC said Monday that Get has delivered double-digit percentage growth almost every year since 2000 and is one of "the most innovative and profitable" cable TV companies in Europe.
The transaction, expected to close by the end of the year, is subject to approval by Norway's competition authorities.