Telia/Brookfield/Valokuitunen Merger Notification — Candidate Simplified Procedure
Summary
On 15 April 2026, the European Commission received notification of a proposed concentration (Case M.12377) whereby Brookfield Asset Management Ltd. and Telia Company AB will jointly acquire control of Valokuitunen Oy, a Finnish wholesale fiber-to-the-home network operator. The notification was published in the Official Journal on 24 April 2026, and the case has been identified as a candidate for treatment under the simplified procedure. The Commission invites interested third parties to submit observations within 10 days of this publication.
“The Commission invites interested third parties to submit their possible observations on the proposed concentration to the Commission.”
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What changed
The European Commission received notification on 15 April 2026 of a proposed concentration under Article 4 of Council Regulation (EC) No 139/2004 whereby Brookfield Asset Management Ltd. and Telia Company AB will jointly acquire control of Valokuitunen Oy, a Finnish wholesale fixed-internet access provider that builds, owns, operates and maintains passive fiber-to-the-home and fiber-to-the-building local networks. The Commission has identified the case as a candidate for simplified procedure treatment under the applicable Notice.
Third parties with legitimate interests may submit observations on the proposed concentration to the Commission's Merger Registry by email or post. Observations must reach the Commission not later than 10 days following the date of this publication (24 April 2026), citing reference M.12377. No substantive decision on compatibility with the common market has been taken; the final determination is reserved.
Archived snapshot
Apr 24, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
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Prior notification of a concentration (Case M.12377 – TELIA COMPANY / BROOKFIELD / VALOKUITUNEN) – Candidate case for simplified procedure
PUB/2026/447
OJ C, C/2026/2426, 24.4.2026, ELI: http://data.europa.eu/eli/C/2026/2426/oj (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
ELI: http://data.europa.eu/eli/C/2026/2426/oj
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| | Official Journal
of the European Union | EN
C series |
| | C/2026/2426 | 24.4.2026 |
Prior notification of a concentration
(Case M.12377 – TELIA COMPANY / BROOKFIELD / VALOKUITUNEN)
Candidate case for simplified procedure
(Text with EEA relevance)
(C/2026/2426)
1.
On 15 April 2026, the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1). This notification concerns the following undertakings:
| — | Brookfield Asset Management Ltd. (‘Brookfield’, Canada), controlled by Brookfield Corporation (Canada), |
| — | Telia Company AB (‘Telia Company’, Sweden), |
| — | Valokuitunen Oy (‘Valokuitunen’, Finland), currently controlled by Telia Company and CapMan AIFM Oy (Finland). |
Brookfield and Telia Company will acquire within the meaning of Article 3(1)(b) and 3(4) of the Merger Regulation joint control of Valokuitunen.
The concentration is accomplished by way of purchase of shares.
2.
The business activities of the undertakings concerned are the following:
| — | Brookfield is a global investment firm that deploys pools of discretionary capital globally for investors across its core businesses, including its asset management business and its operating businesses focused mainly on renewable power and transition, infrastructure, private equity, and real estate, |
| — | Telia Company provides mobile and fixed telecommunications services, broadband and television services in Sweden, Finland, Norway, Lithuania, Estonia and Latvia, |
| — | Valokuitunen is active at the wholesale level of the sector for fixed internet access in Finland (it builds, owns, operates and maintains passive fiber-to-the-home and passive fiber-to-the-building local networks). |
3.
On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified treatment for certain concentrations under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.
4.
The Commission invites interested third parties to submit their possible observations on the proposed concentration to the Commission. Observations must reach the Commission not later than 10 days following the date of this publication. The following reference should always be specified:
M.12377 – TELIA COMPANY / BROOKFIELD / VALOKUITUNEN
Observations can be sent to the Commission by email or by post. Please use the contact details below:
Email: COMP-MERGER-REGISTRY@ec.europa.eu
Postal address:
| European Commission |
| Directorate-General for Competition |
| Merger Registry |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |
(1) OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).
ELI: http://data.europa.eu/eli/C/2026/2426/oj
ISSN 1977-091X (electronic edition)
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