Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229- 91111. Fax: +32 229- 64301. E -mail: COMP -MERG ER-REGISTRY@ec.europa.eu.  
  EUROPEAN COMMISSION  
Brussels, 28.9.2021  
C(2021) 7149 final  
PUBLIC VERSION 
BSIP UK HoldCo Limited One Canada Square,  
Level 25 Canary Wharf  
London, E14 5AA   
United Kingdom  
 
Telia Company AB  
Stjärntorget 1  Solna 169 94  
Sweden  
Subject : Case M. 10419 – BROOKFIELD / TELIA COMPANY / TELIA TOWERS  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No  139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 6 September 2021, the  European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which Brookfield 
Asset Managem ent Inc (“Brookfield”, Canada) and Telia Compan y AB (“Telia 
Company”, Sweden) intend to acquire, within the meaning of Arti cles 3(1)(b) and 3(4) 
of the Merger Regulation, joint control  over Telia Tow ers AB (“Telia Towers”, 
Sweden) , including  its subsidiar ies Telia Towers Finland Oy and Telia Towers 
Norway AS (the “Transaction”).3 The concentration is accomplished by way of 
purchase of shares.4 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009, the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘ Community ’ by ‘Union’  and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p. 3 ( the ‘EEA Agreement ’). 
3  Telia Towers also has a subsidiary in Sweden, Telia Towers Sverige AB, which will be car ved out pre -
closing of the Transaction.  
4  Publication in the Official Journal of the European Union No C 365, 10.9.2021, p. 13.  

2 2. The business activities of the undertakings concerned and the joint venture are:  
− for Brookfie ld: the global offering of a range of public and private investment 
products and services, focused on real estate, infrastructure, renewable power 
and private equity,  
 
− for Telia Company: the provision of mobile and fixed telecommunications 
services, as well as broadband and television services in Denmark, Estonia, Finland, Latvia, Lithuania, Norway and Sweden, and 
 
− for Telia Towers: t he ownership, management and lease  of masts and towers  
for the purposes of placement of communications equipment  in Finland and 
Norway. 
3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation  and of 
paragraph 5(b) of the Commission Notice on a simplified procedure for treatment of 
certain concentrations under Council Regulation (EC) No  139/2004.
5 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it compatible with the internal market and with the EEA Agreement. This decision is 
adopted in applicat ion of Article 6(1)(b) of the Merger  Regulation and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
                                                 
5  OJ C 366, 14.12.2013, p. 5.