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Nokia closes sale of digital health biz; Telia appoints CEO for Swedish unit

In this monthly Best of Nordics feature, S&P Global Market Intelligence provides a roundup of recent market developments in Denmark, Sweden, Norway, Finland and Iceland.

TOP NEWS

* Nokia Corp. completed the sale of its digital health business, Withings, to the latter's co-founder and former chairman, Éric Carreel, according to a May 31 news release. The decision is part of Nokia's focus to become a business-to-business and licensing company.

* Telia carried out a number of changes to its group executive management, according to a May 28 announcement. The most significant change is the appointment of Anders Olsson as executive vice president and CEO of Telia Sweden. He had been group COO and head of global services and operations.

M&A

* Denmark-based Nets A/S on June 4 announced plans to merge with Germany-based Concardis GmbH in a deal that would create a combined payment services business with annual net revenue of €1.3 billion. Nets CEO Bo Nilsson will lead the combined group as CEO, with Concardis CEO Robert Hoffmann remaining in his position and reporting to Nilsson. The company will be based in Denmark, with the companies retaining their own brands.

* The Swedish state will become a major media player in the country if Telia Co. AB acquires Bonnier Broadcasting, Svenska Dagbladet reported May 29. Telia recently confirmed it is interested in acquiring the Bonnier AB unit, which owns TV4, CMore and Finnish channel MTV.

INTERNET, OTT AND MOBILE

* AT&T Inc. teamed up with Nokia for internet of things deployments around the world. The companies are using Nokia's Worldwide IoT Network Grid, or WING, to offer AT&T's enterprise customers access to Nokia's global IoT ecosystem. Customers will be able to access core network, dedicated IoT operations, billing, security, data analytics and other services, the companies said June 7.

* Nokia on June 7 said it had cooperated with T-Mobile US Inc. on completing a bidirectional over-the-air 5G data session on a 3GPP-compliant 5G New Radio system in the Deutsche Telekom AG unit's lab in Bellevue.

REGULATORY AND LEGAL

* Swedish telecom giant Ericsson rejected two proposals made by India's Reliance Communications Ltd. to settle an eight-month-old dispute over dues outside the purview of Indian insolvency tribunal, the National Company Law Tribunal, The Economic Times (India) reported May 26, quoting people familiar with the matter.

OTHER NEWS

* Telia on June 5 announced that its new open data center in Helsinki, Finland, started its operations. The center is carrier-neutral and will provide services for both Finnish and international companies, and will form a platform for robotics, IoT and 5G services.

* Ericsson has secured a €250 million credit facility from the European Investment Bank, the proceeds of which will be used for the tech giant's 5G-related research and development activities, according to a May 31 news release.

* Nokia on May 31 announced that it appointed Maria Varsellona president of Nokia Technologies, replacing Gregory Lee. Varsellona currently is chief legal officer and will continue to report to Nokia's president and CEO Rajeev Suri.

* Nokia on May 15 announced that it appointed Sri Reddy co-president of its Nokia IP/Optical Networks business group and a member of the group leadership team, effectively immediately. Reddy will look after day-to-day operational matters and co-manage strategy and overall performance of the business.

* Fitch Ratings changed TDC A/S' senior unsecured debt rating to B+ from BB-. The company's long-term issuer default rating is unchanged and remains B+ with a stable outlook, according to a May 23 news release.

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