Business Services Industry
Norwegian competition authority blocks sale of Aspiro AB's search business to Opplysningen Mobil AS
Nordic Business Report, Dec 4, 2008
NORDIC BUSINESS REPORT-4 December 2008-Norwegian competition authority blocks sale of Aspiro AB's search business to Opplysningen Mobil AS(C)1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com
Swedish mobile services developer Aspiro AB (OMX Stockholm:ASP) said on Thursday (4 December) that the Norwegian competition authority has blocked the proposed merger of Aspiro's Norwegian subsidiary Aspiro Sok AS and Opplysningen Mobil AS.
Aspiro said that it will consider appealing the decision, but that it will also evaluate other options.
Aspiro announced in July that it had agreed to sell Aspiro Sok to Opplysningen Mobil for approximately SEK170m in cash.
Aspiro Sok, Aspiro's search business, generated net sales of SEK43.1m and an operating profit (EBITDA) of SEK36m in the first nine months of the year.
Aspiro, headquartered in Malmo, Sweden, develops and provides mobile entertainment, business solutions and search services. The company has 160 employees in the Nordic and Baltic countries and reported sales of SEK405m in 2007.
One British pound (GBP) is worth approximately 12.30 Swedish kronor (SEK).
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