Telenor Announces Sale of its Stake in Allente to Viaplay

Core Viewpoint - Telenor Group has agreed to sell its 50% stake in Allente to Viaplay for SEK 1.1 billion, marking a strategic shift as Allente aligns better with Viaplay's strategy than Telenor's [1][2][3] Group 1: Transaction Details - The sale involves a total consideration of SEK 1.1 billion for Telenor's stake in Allente, which has an enterprise value of SEK 3.1 billion [1][3] - Allente, formed in May 2020 from the merger of Canal Digital and Viasat, serves residential and business customers across the Nordics [1] - The transaction is expected to close within six to nine months, pending regulatory approvals in Norway, Sweden, and Denmark [4] Group 2: Performance and Future Outlook - Since its inception, Allente has distributed SEK 4.4 billion in dividends to its owners, demonstrating strong financial performance [3] - Both Telenor and Viaplay express confidence in the future of Allente under Viaplay's full ownership, aiming to enhance its offerings and customer experiences [2][4]