Under a new strategic partnership, TeliaSonera is investing $115 million (€102m) for a 1.4 per cent stake in Spotify. Both companies are also committing resources, staff and other assets to ignite the joint innovation agenda within areas such as media distribution, customer insights, data analytics and advertising. A joint TeliaSonera-Spotify team will be set up to run the projects.

“We have a long and great relationship with TeliaSonera and I’m pleased we’re able to take this to the next level together with this strategic partnership”, said Daniel Ek, CEO and Founder, Spotify.

“We’ve set-out to create a New Generation Telco where innovation is key to our success. Spotify is a great company, loved by customers and with a world class take on innovation I’m excited to join Spotify’s journey as investor and key partner”, says Johan Dennelind, President and CEO, TeliaSonera.

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