Annual and Sustainability Report 2011 - Teracom

Note 26. Shares and participations in Group companies
Participations in Group companies
Company name CIN Registered office
Teracom AB 556441-5098 Stockholm
Boxer TV-Access AB 556548-1131 Stockholm
Oy Boxer TV AB 1589479-9 Helsinki
Boxer TV A/S 29939470 Copenhagen
Teracom A/S 25598008 Taastrup
Digi TV Plus Oy 1988050-3 Helsinki
Teracom Mobile TV AB 556392-5303 Stockholm
Teracom Mast AB 556711-9168 Stockholm
Book value
Company name Number shares Equity Profit (loss) for the year
Capital/share
of votes, % 2011 2010
Teracom AB (Parent Company previous year) 250 000 1 572 304 100 1 633
Boxer TV-Access AB 3 332 156 156 100 1 410 1 410
Oy Boxer TV AB 392 100 0 0
Boxer TV A/S 5 000 -256 -258 100 444
Teracom A/S 3 800 1 288 43 100 1 410 1 410
Digi TV Plus Oy 2 921 500 -134 -75 53 394 413
Teracom Mobile TV AB 10 000 1 0 100 0 0
Teracom Mast AB 10 000 1 0 100 1 1
5 292 3 234
Note 27. Acquired businesses
On 30 September 2010, Teracom AB acquired 100 percent of the shares in
the Danish terrestrial network operator, BSD, which consists of the following
three companies: Broadcast Service Denmark A/S, Broadcast Stations Company
1 A/S and Broadcast Stations Company 2 A/S. The consideration, SEK
1,394 million, was paid in cash. Acquisition costs amounted to SEK 16 million
and have been included in the Group's income statement for 2010 as other
expenses. The acquired companies, which were merged in May 2011, comprise
a cash-generating unit called Teracom A/S. According to the final acquisition
analysis, the assets and liabilities included in the acquisition of Teracom A/S
are as follows:
MSEK
Value according to
acquisition analysis
Property, plant and equipment 1 440
Customer agreements 20
Customer relations 12
Intangible assets 39
Current receivables - interest-bearing 47
Current receivables - non interest-bearing 4
Cash and bank balances 147
Provisions (deferred tax liabilities) -8
Long-term liabilities - interest-bearing -241
Long-term liabilities - non interest-bearing -98
Current liabilities - interest-bearing -43
Current liabilities - non interest-bearing -37
Acquired identifiable net assets 1 282
Goodwill 112
Purchase sum for shares in subsidiary 1 394
possible to calculate the total amount of income that the Group would have
had if Teracom A/S had been consolidated on 1 January 2010 since Teracom
A/S consisted of several companies during 2010 and the legal structure was
changed just prior to the acquisition.
Note 28. Pledged assets
The Group's and the Parent Company's pledged assets at the end of the year
amounted to SEK 0 (0) million and 0 (0), respectively.
Note 29. Contingent liabilities/Guarantees
At the end of 2011 there was only one contingent liability/guarantee in the
Parent Company. It was also the only contingent liability in the Group. The
contingent liability referred to a Parent Company guarantee for the subsidiary
Boxer TV A/S. The Parent Company guarantees its subsidiary's financial commitments
in a Letter of Financial Support.
Purchase sum entered as a liability -6
Consideration paid on 31 December 2010 -1 388
Cash equivalents in acquired subsidiaries 147
Change in Group cash equivalents as of
31 December 2010
-1 241
The income from Teracom A/S included in the consolidated income statement
for the period 1 October-31 December 2010 amounted to SEK 60 million.
Teracom A/S also contributed a profit before tax of SEK 18 million. It is not
89