The European Commission approved the TeliaSonera acquisition of Orange Denmark from France Telecom. Following the acquisition, TeliaSonera will have approximately 1.1 million mobile customers in Denmark. The acquisition was announced 8 July 2004 and the closing is expected to occur in October 2004. TeliaSonera will pay France Telecom EUR 600 million, less the net debt of the firm at the closing date of the deal. Following closing, the process of integrating the two mobile telecom operations will commence. However, initially, no changes will be made in the existing customer relationships. Over the coming months, the products and services of both organizations will continue to be delivered under separate brands.
