Swedish telecom carrier, Tele2, announced yesterday that it would be selling its Danish operations to Norway-based Telenor, for 1.03 billion Crowns, the cash equivalent of US$151.4 million.

Tele2 noted that, in Denmark, there is a need for a more infrastructure based approach, both when it comes to broadband and mobile services.

Hence, Tele2 has decided to exit Denmark and continue with the strategy to concentrate its operations to markets with expectations of higher returns, the company went on to explain.

Although based in Sweden, Tele2 has established operations throughout Central and Southern Europe, Russia, and the Baltic States, and operates mobile phone networks in 13 countries. Its Danish division currently has 227,000 mobile customers, 206,000 fixed-line telephone customers, and 75,000 broadband subscribers.

The deal with Norwegian telecom incumbent, Telenor, is expected to close sometime in June, pending regulatory approval.