STOCKHOLM, Oct 31 (Reuters) – Norwegian telecom operator Telenor wants to sell its television security subsidiary Conax, a divestment which is expected to mainly attract private equity firms, three sources familiar with the matter said.
* JP Morgan advises Telenor on sale of Conax
* Conax had sales of NOK 569 mln in 2012, EBITDA 230 mln
JP Morgan is advising Telenor on the sale, two of the sources said. One of the people said details on the deal was sent to potential buyers last week.
The sources declined to be identified because the sale is not public. Telenor and JP Morgan declined to comment.
Conax, which has customers in more than 85 countries, had earnings before interest, depreciation and amortisation (EBITDA) of 230 million Norwegian crowns ($39 million) last year and sales of 569 million.
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