Helsingborg backs down after voters say 'no' to selling energy company

2:16 min

The no-side won by a landslide in a Sunday referendum asking voters in Helsingborg if the municipality should sell off its energy company.

Öresundskraft is owned by the municipality and provides electricity and telecommunication services to residents there. Politicians from the Moderates, Christian Democrats and Liberal party wanted to sell the company since new regulations would limit its development.

But a referendum driven by voters say 96.4 percent say no to the plan. And on Monday, the three parties said they would respect the outcome of the advisory vote, which had a turnout of about 50 percent.

Lars Thunberg, deputy mayor in Helsingborg from the Christian Democrats, says the local government wanted to sell the public utility to help fund its budgets for education and welfare services.