Telia Company has entered an agreement with HongShan Group to sell its 9.6% shareholding in Marshall Group for EUR 101 million (SEK 1.15 billion). The transaction is expected to close in the second quarter, and reflects Telia's active portfolio management and focus on growth in its core connectivity business in the Nordics and Baltics. Telia intends to use the transaction proceeds for deleveraging purposes.

Andreas Ekström, Telia Company Head of M&A: "Marshall Group is an exciting company with products that are popular around the world and that we sell in our direct-to-consumer stores. We became an owner of Marshall Group through an early investment in Zound Industries in 2014, and have been an active minority owner since then in close and constructive dialog with the Marshall family and other owners. This is the right moment for us to exit our holding in Marshall Group, since we are getting a fair valuation of our shares at a time when Telia's strategic priority is to grow our core business, and Marshall Group and its talented employees can unlock its growth potential with a new majority owner."

Marshall Group - formed in 2023 through the merger of Stockholm-based Zound Industries and UK-headquartered Marshall Amplification - is an audio, tech and design powerhouse uniting musicians and music lovers through genre-breaking innovation. Marshall, the company's flagship brand, is uniquely positioned with over 60 years of rock'n'roll attitude on stage, at home and on the go.

NOTES TO EDITORS

For more information, contact Telia Company's press office on +46 (0)771 77 58 30, visit our newsroom and follow us on LinkedIn. To download our logo, high-resolution images of Telia leaders, offices and solutions, or B-roll footage for editorial use, visit our media bank.

ABOUT TELIA

Telia Company (STO: TELIA) is a Nordic and Baltic telecommunications leader and Nordic media house, serving consumers, businesses and public sector customers with essential digital infrastructure, ICT services and entertainment. Our colleagues serve millions of customers every day in one of the world's most connected regions. We're the hub in the digital ecosystem, providing 26 million mobile, broadband and TV subscriptions that empower people, companies and societies to stay in touch with everything that matters 24/7/365. Learn more at www.teliacompany.com.