Backbone operator Telia Carrier became the property of financial funds

The Swedish state-owned Telia Company has announced an agreement with the joint venture Polhem Infra to sell its international trunk operator Telia Carrier for SEK 9.450 million ($ 1.3 billion).

It was also announced that the Telia Company is entering into a long-term strategic partnership with Telia Carrier to provide “the world's leading network solutions” to Telia customers on an ongoing basis. For the Polhem Infra JV, owned by three Swedish pension funds - First AP Fund, Third AP Fund and Fourth AP Fund - this is the first experience of investing in the digital industry.

Allison Kirkby, President and CEO of Telia, confirmed that most of the proceeds from the sale of Telia Carrier to Polhem Infra "will be used to strengthen the company's balance sheet and thus provide a solid financial base for Telia Company and shareholders." “Telia will now be able to fully concentrate on its presence in the Baltics and Scandinavia,” she added.

Telia Carrier is in the first place in the global ranking of companies operating backbone fiber-optic Internet networks. It accounts for 65% of the world's internet routing services and its network spans Europe, North America and Asia, connecting customers in over 120 countries. Through the so-called Scandinavian ring - part of the Telia Carrier network - Internet traffic is directed to major cities in the Baltic and Northern Europe.

According to a press release, the change of ownership will enable Telia Carrier, with 530 employees, to achieve a level of investment in its network, services and customer service programs that will bring content providers, operators and enterprises an advantage beyond any competitor.