Telenor Group has finalized an agreement to divest its 50% ownership in Allente to Viaplay for a substantial SEK 1.1 billion (€94.6 million). Allente, established in May 2020 as a joint venture between Telenor and Viaplay, resulted from the consolidation of Canal Digital and Viasat, prominent players in the direct-to-home (DTH) satellite television sector.
“We are proud of what has been accomplished together with Allente and Viaplay over the past five years. As the company enters its next chapter, there is a better fit with Viaplay’s strategy than with Telenor’s. We’re confident the company will be in the right hands going forward,” says Dan Ouchterlony, EVP of Telenor Amp. This sale follows Telenor's November 2023 divestment of its satellite division to Space Norway, a government-owned entity, signifying a complete withdrawal from the Thor satellite network at 1 degree West. This concludes a long-standing rivalry beginning with Telenor's 1997 launch of Canal Digital in partnership with Canal+.
“We have had a mutually beneficial cooperation with Telenor over the years, and we are excited to take full ownership of Allente. Building on the strong foundation we’ve created together, we look forward to further enhancing Allente’s offerings and delivering top-notch entertainment experiences to our customers,” says Jørgen Madsen Lindemann, President & CEO of Viaplay Group. The transaction’s completion is anticipated within six to nine months, contingent upon regulatory approvals in Norway, Sweden, and Denmark.