Com Hem acquires Boxer Sweden

Com Hem has entered into an agreement to acquire Boxer TV-Access AB, the pay-TV operator in the DTT network in Sweden, for an enterprise value of SEK1,330 million (€144 million).

Boxer Sweden is a wholly-owned subsidiary of Teracom Boxer Group AB.

Com Hem Holding AB has following successful trials started its expansion into the single dwelling unit (“SDU”) market in Sweden, and the Boxer acquisition should help expand this market.

The acquisition is expected to generate approximately SEK300 million in additional Underlying EBITDA to the Com Hem Group

Boxer’s approximately 500,000 DTV customer base is primarily situated in the SDU market, and will get access to fibre over the coming years – a significant acceleration opportunity for Com Hem.

The acquisition is conditional on approval by the Government of Sweden and the Swedish Competition Authority.

It is expected to close in the second half of 2016.

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Boxer Denmark keeps Teracom in the chase

Operating profit at Teracom improved in the second quarter, thanks to an improvement in earnings at Boxer Denmark.

EBITDA of SEK 233 million (€27 million) in the second quarter compares to SEK 199 million in 2012.

Despite Boxer Denmark’s results for the quarter still being negative, losing 20,000 subs to 348,000, the Swedish-owned transmission company says a customer base has been built and the brand established.

Boxer Sweden is not so healthy and intense competition has seen a decline in the customer base, from 612,000 subscribers in Q2 2012 to today’s 589,000.

An increased effort has been placed on customer service with so far positive results.