May 25, 2018 / 9:54 AM / a year ago

Sweden's Telia in talks to buy Bonnier's broadcasting business -Resume

STOCKHOLM, May 25 (Reuters) - Telecom group Telia is in advanced negotiations to buy media group Bonnier’s broadcasting business for 10-12 billion crowns ($1.15-1.38 billion), Swedish magazine Resume said on Friday, referring to sources.

Trading in Telia shares were suspended after falling 2.0 percent on the report. Telia declined to comment.

A deal could be announced as early as next month and the talks have been ongoing since last autumn, Resume said.

In a global wave reshaping the telecoms and media sectors, recent deals in the Nordics include Tele2’s bid for cable-TV firm Com Hem.

Swedish media group MTG said in March it would split in two, demerging its Nordic TV business and listing it on the stock exchange, after a sale of the unit fell through.

Bonnier Broadcasting, which include brands like TV4, streaming service C More and Finnish MTV, had sales of 7.5 billion Swedish crowns ($861.30 million)last year and an operating profit (EBITA) of 423 million.

Telia, which hopes to complete an exit from its Eurasian businesses this year, had said previously it is interested in acqusitions in its Nordic core markets.

$1 = 8.7078 Swedish crowns Reporting by Helena Soderpalm, editing Johannes Hellstrom

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