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 -MERGER -REGISTRY@ec.europa.eu . 
  EUROPEAN COMMISSION  
Brussels, 25.4.2022  
C(2022 ) 2838 final  
PUBLIC VERSION  
INFRACORE NORDIC BIDCO AB  
One Canada Square, Level 25 Canary  
Wharf,  
E14 5AA, London,  
United Kingdom  
 
TELIA COMPANY AB  
Stjärntorget 1,  
169 94 Solna,  
Sweden  
Subject : Case M.10 666 – BROOKFIELD  / TELIA COMPANY / TELIA TOWERS  
SWEDEN  
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 29 March 2022 , the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which  Brookfield 
Asset  Management  Inc. ("Brookfield ") indirectly  through  its wholly -owned  subsidiary 
Infracore Nordic Bidco AB (" Infracore ") and Telia Company AB , will acquire within 
the meaning of Article 3(1)(b)  and 3(4)  of the Merger Regulation joint control over 
the whole of Telia Towers Sweden AB (“Telia Towers  Sweden ”, Sw eden) by way of 
purchase of share .3 
2. The business activities of the under takings concerned  are the following : 
 for Brookfield:  the global offering of a range of public and private investment 
products and services, focused on real estate, infrastructure, renewable power and 
private equity , 
                                                 
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 introduc ed 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  Publication in the Official Journal of the European Union No C 150, 05.04.2022 , p.28. 

2  for Telia Company: the provision of mobile and fixed telecommunications 
services, as well as broadband and television services in Denmark, Estonia, 
Finland, Latvi a, Lithuania, Norway and Sweden,  and 
 for Telia Towers  Sweden : the ownership and operation of passive wireless 
telecommunications i nfrastructure ( i.e., masts and towers) in Sweden for 
placement of wireless communications technol ogy by its customers. Telia Towers  
Sweden owns and operates approximately 3,800 passive wireless 
telecommunication infrastructure sites across Sweden . 
3. After ex amination 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 concentration s under Council Regulation (EC) No 139/2004 .4 
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 application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission  
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
 
                                                 
4  OJ C 366, 14.12.2013, p. 5 .