Telia has announced a 100 % sale of its Danish operations and assets to the Danish telecom group Norlys.

Telia's Danish operations and assets are valued at US$920 million on a cash and debt-free basis, as per the binding term sheet agreement. This move enables Telia to concentrate on markets where it can establish a leading position while streamlining its operations. On the other hand, Norlys will expand its existing fiber business with a robust mobile network.

The deal is expected to be finalized by Q1 2024, subject to final and binding agreements.