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Through its subsidiary Telia Carrier, Telia Company has built an advanced global network for digital communication for more than 30 years. Today, the company has 74,000 kilometers of fiber network with 320 connection points in the world.
Telia Carrier is now being bought by Polhem Infra, a company that was formed last year by the first, third and fourth AP funds, which are involved in managing money in the general pension system.
– We will invest in community infrastructure. This is a unique asset, which we believe will be a good deal for Swedish pension savers. International data traffic is growing by double digits every year, says Mikael Lundin, CEO of Polhem Infra.
You have 9 billion to invest in four years, but are you buying now for 9.5 billion?
– Part of the purchase is paid by the operator requesting a loan, we contribute around 60 percent in capital, in round figures of SEK 5 billion.
Has Carrier been repeatedly called “Telia’s mourning child” due to declining profitability?
– I do not want to comment on the story but point out that the situation is different today and especially in the future. Not least, development is driven by 5G and by the fact that large international companies want good connections of their own.
Polhem Infra will invest its money in sustainable energy solutions, digital infrastructure and climate-friendly transport; this will be the third investment to date. It already owns a fifth in Solör, a profitable and growing biofuel district heating company, and almost a quarter in a wind turbine due to be completed next year at Härjedalska Skaftåsen.
What will the next investment be?
– I don’t know yet, but we focus a lot on Swedish municipalities: capital and experience are needed both in the energy sector and in fiber expansion, says Mikael Lundin.
Telia Carrier currently has 530 employees in 120 countries and last year had sales of almost SEK 5.4 billion. Telia will use the money to strengthen its balance sheet and for investments in the core business. The multi-million dollar deal will now be scrutinized for competitive reasons, among other things, and is expected to be completed early next year.
