Orrick Secures Unconditional EU Approval of Nordic Satellite TV Joint Venture

May.05.2020

Orrick has assisted Telenor in securing unconditional Phase I approval from the European Commission for the combination of its satellite pay-TV business, Canal Digital, with Viasat Consumer, the satellite/IPTV business of Nordic Entertainment Group (NENT Group), into a new JV company. The transaction brings together the Nordic region’s two satellite (DTH) pay-TV operators into a single player with combined net sales of NOK 7 billion and around 1.25 million subscribers. As part of the transaction, which closed on May 5, Telenor and NENT Group will each hold 50% of the shares in the new joint venture company. 

An Orrick team led by Douglas Lahnborg and assisted by Matthew Rose and Saira Henry advised Telenor on the competition aspects of the transaction.