Telenor to buy Vodafone's Swedish operations
Every week (almost every day) seems to bring news of new reshuffles in the European telephone industry. Today's is the announcement that Vodafone, the world's leading cell phone company, would sell off its Swedish operations to Telenor ASA for $1.25 billion. Telenor is descended from Norway's former state-owned phone service and is a leader in both fixed-line and cell phone service in that country. It is also involved in Inetrenet services, cable TV, and satellite TV.
Telenor has expanded to other countries as well, including Denmark, Hungary, Malaysia, Russia, and Thailand among others. The company is already in Sweden as a minor cellphone player, and new purchase will greatly enhance its presence.
Vodafone, which expanded into Sweden in 1992, is retreating, analysts say, because of the tough competition in the small Swedish market. The Vodafone division was #3 in the country. Competitors include Tele2 AB, TeleSonera AB, and 3 (a division of Hutchison Whampoa), along with Telenor. Vodafone has been slipping, especially since it tried to rebrand itself from Euripolitan to Vodafone in Sweden, a task started a few years ago.
TeleSonera is the result of a 2003 merger between Swedish telecommunications company Telia and Finnish Sonera. Both were once the phone monopiles ofor their respective countries, and combine fixed and mobile phone services.
Meanwhile, Tele2, the #2 cellphone company in Sweden, has also expanded widely across the continent. It currently is in the process of buying Dutch-based Versatel, another cellphone provider.
3:32:48 PM 
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