On 18 July 2025, Telia Company AB ("Telia") announced a public offer (the "Offer") to the shareholders of Bredband2 i Skandinavien AB ("Bredband2"). On the same day, Bredband2 published a statement according to which the board of directors of Bredband2 recommends the shareholders of Bredband2 to accept the Offer. Telia's completion of the Offer is conditional upon, inter alia, the receipt of all necessary regulatory, governmental or similar clearances, approvals, decisions and other actions from authorities or similar, including from competition authorities, in each case on terms which, in Telia's opinion, are acceptable.
The Swedish Competition Authority has today announced a decision to initiate an in-depth investigation (a so-called "phase 2" investigation) of Telia's acquisition of Bredband2. Telia has consequently extended the acceptance period of the Offer until 30 January 2026. Telia continues to reserve the right to shorten the acceptance period and bring forward the settlement date as well as to further extend the acceptance period and postpone the settlement date to the extent permissible under applicable laws and regulations.
When considering whether to recommend the shareholders to accept the Offer, the board took into account that Telia's acquisition of Bredband2 could become subject to an in-depth investigation by the Swedish Competition Authority and that the acceptance period could be extended. Based on the information about the in-depth investigation currently available to Bredband2 and that the board's view that the Swedish Competition Authority will give its approval remains unchanged, the board sees no reason to revise its recommendation. The board intends to continue assisting the Swedish Competition Authority with requested information to enable the authority's approval of Telia's acquisition of Bredband2 during the extended acceptance period.
The Swedish Competition Authority's decision is available on its website, www.konkurrensverket.se.
Bredband2's recommendation to the shareholders that was published on 18 July 2025 is available here: https://www.bredband2.com/om-bredband2/investor-relations/information-om-budet-fran-telia/.
Telia's press release about the extension of the acceptance period and further information about the Offer is available on Telia's website about the Offer, https://offer-to-connect.com/.