(Reuters) - Swedish telecoms operator Telia Company has agreed to sell its Danish operations to electricity and internet provider Norlys for 6.25 billion Danish crowns ($919.85 million), it said on Tuesday.
The disposal comes a few months after Telia reported fourth-quarter core profit slightly below estimates, proposed a lower dividend and said it would cut 1,500 jobs this year.
Norlys CEO Niels Duedahl said: "Combining Telia's mobile network with our fibre business will enable Norlys to provide a full-service solution in Denmark, paving the way for significant growth opportunities."
The transaction is expected to close in first quarter of 2024, Telia said, adding that it plans to utilise the proceeds to reduce debt.
($1 = 6.7946 Danish crowns)