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The mobile and telecom company Ice Group is experiencing an exceptional rise on the Oslo Stock Exchange on Wednesday. The company rises as much as 298 percent before trading was suspended.
The share has risen very sharply on small turnover. To date, shares in Ice Group have been traded for NOK 8.7 million.
In February, it was announced that Lyse will buy Ice Group Scandinavia in an agreement worth NOK 5.6 billion. With this, Lyse secures control of the companies Ice Communication Norge as, Phonepartner Norge Holding as and Ice Retail Holding as.
Industrially, the Lyse-owned telecommunications company Altibox has what Ice lacks and vice versa if the companies want to become full competitors of Telenor and Telia. In total, Ice and Altibox have 1.5 million customers on mobile, broadband and TV.
Ice Group will be left with three billion kroner after the acquisition, but will have to spend most of the amount on resolving the conflict with Goldentree and settling with lenders. The total costs will be NOK 2.9 billion, and the company wrote in a stock exchange announcement that there will be little left for shareholders.
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The mobile and telecom company is listed on the Oslo Stock Exchange with a market value that is now NOK 460.6 million.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
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