Tele2 AB's Tele2 Sweden to Sell Its Residential Cable and Fiber Operations to Telenor ASA

Wednesday, 23 Oct 2013 02:00am EDT 

Tele2 AB announced that Tele2 Sweden has reached an agreement with Telenor ASA to sell its residential cable and fiber operations, including its residential customers. Tele2’s fiber infrastructure and customers on the business side are not part of the transaction. The total cash consideration for the divested assets amounts to SEK 794 million. The price consists of an Enterprise Value of SEK 775 million (on a cash and debt free basis) as well as an additional payment for certain equipment amounting to SEK 19 million. Completion of the transaction is expected after approval from the Swedish Competition Authority. SEB Corporate Finance acted as sole financial adviser to Tele2 in the transaction. 

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