Scandinavian telecoms investment firm Ice Group has announced the sale of its Swedish wireless broadband and M2M provider Netett Sverige, which trades under the brand name Net1. The operator is being sold to broadcasting network services company Teracom Group for a purchase price of SEK180 million (USD19 million).
Net1 holds a nationwide wireless licence comprising 2×5MHz of spectrum in the 450MHz band, valid until 2044. It provides residential and business services using LTE technology. Ice Group says it is looking to divest its operations in Sweden in order to concentrate on its business in Norway, where it is the third largest mobile network operator (MNO).