Brookfield and Alecta have acquired 49 percent of Telia Company’s tower business in Sweden, following a similar 49 percent purchase of the firm's tower business in Finland and Norway.

The $560m cash sale covers 3,800 network sites across Sweden.

– Getty Images

“We are delivering on our strategy to both develop and crystalize the value of our digital infrastructure, and I am delighted that we have Brookfield and Alecta as our Tower partners in Norway, Finland and now in Sweden," Allison Kirkby, Telia Company president and CEO, said.

"Having created the Nordic region's leading Tower company with an EV of €2.6 billion ($2.8bn), we aim to be an even stronger foundation to the continued digitalization of the Nordics."

Brookfield's investment came through its Super Core-infrastructure fund the company has also invested in AT&T's data centers, Ascenty, and has a joint venture with Digital Realty in India. Alecta is Sweden’s largest pension fund.

Telia also sold 100 percent of its Latvian telecom services division, Telia Latvia to Tet, for €10.75 million ($11.5m).

Andreas Ekström, Telia Company head of Latvia, said: “We are pleased that we have now completed the sale of Telia Latvia to local telco Tet. With this acquisition, Tet strengthens its position within the enterprise segment given Telia Latvia’s network, technology assets and highly skilled employees.

"Latvia is an interesting ICT market and Telia remains committed to continue contributing to the digitalization of Latvia through our engagement in Tet and LMT.”

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