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Nordic EQT buys cable TV business for E236m

Nordic firm EQT Northern Europe, the private equity arm of Investor, has acquired TeliaSonera's cable television business for E236m. Telia was forced to sell Com Hem after the European Commission insisted on it as a condition of approval for Telia's merger with Sonera.

‘Com Hem is the market leader in an attractive sector,' said Thomas von Koch, partner at EQT Partners, the investment advisor to EQT funds. ‘Through leading technology and a strong product offering in both cable TV and broadband Internet, the company has an excellent opportunity to significantly grow revenues.'

Com Hem is the largest cable television operator in Sweden and had net sales of SKr1071m in 2002. The investment will be used to continue the development of existing operations and to introduce new products and services.

EQT has already made two disposals this year, defying barren exit conditions. The firm sold Stenqvist to private equity firm Triton last week and sold Nordic Info to UK's Experian for E150m in January.

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