Telia Co. AB said March 15 that it informed the European Commission of its intent to acquire Bonnier Broadcasting.
The EC is expected to review the acquisition, including for potential competition concerns. After the first phase of the review, which may take about 25 days, the EC may either approve the transaction or extend the investigation process.
Telia's planned 9.2 billion Swedish kronor acquisition of the Bonnier AB unit will include Swedish commercial TV broadcaster TV4 AB, pay TV operator C More Entertainment AB and Finnish broadcaster MTV Oy.
Prior to entering a deal to acquire Bonnier, Telia also closed a deal to acquire TDC A/S' Norwegian business in 2018.