January 10, 2018 / 6:18 AM / 10 months ago

BRIEF-Tele2 and Com Hem say to merge

Jan 10 (Reuters) - Com Hem Holding Ab:

* TELE2 AND COM HEM COMBINING TO CREATE LEADING INTEGRATED CONNECTIVITY PROVIDER

* COM HEM HOLDING AB SAYS ‍EXPECTED TOTAL ANNUAL OPEX, CAPEX AND REVENUE SYNERGIES OF AROUND SEK 900 MILLION TO BE ACHIEVED WITHIN FIVE YEARS AND FREE CASH FLOW PER SHARE ACCRETIVE FOR TIME FROM FIRST YEAR AFTER COMPLETION​

* COM HEM HOLDING AB SAYS ‍COM HEM’S SHAREHOLDERS WILL RECEIVE AS MERGER CONSIDERATION SEK 37.02 IN CASH PLUS 1.0374X B SHARES IN TELE2 FOR EACH SHARE IN COM HEM OUTSTANDING AS AT COMPLETION OF MERGER​

* COM HEM HOLDING AB SAYS ‍HENCE, COM HEM’S SHAREHOLDERS WILL RECEIVE APPROXIMATELY 26.9 PERCENT ECONOMIC OWNERSHIP IN ENLARGED TELE2 AND A TOTAL CASH CONSIDERATION OF SEK 6.6 BILLION​

* COM HEM HOLDING AB SAYS ‍BASED ON LATEST THIRTY TRADING DAYS VOLUME-WEIGHTED AVERAGE SHARE PRICE OF TELE2 B SHARE, OFFER VALUES COM HEM AT SEK 146.00 PER SHARE​

* COM HEM HOLDING AB SAYS ‍AT COMPLETION OF MERGER, ANDERS NILSSON WILL BECOME CEO OF ENLARGED TELE2​

* COM HEM HOLDING AB SAYS ‍TELE2 AND COM HEM WILL DISTRIBUTE STATED ORDINARY DIVIDENDS FOR 2017 TO THEIR RESPECTIVE SHAREHOLDERS IN AMOUNT OF SEK 4 PER SHARE FOR TELE2 SHAREHOLDERS AND SEK 6 PER SHARE FOR COM HEM SHAREHOLDERS​

* COM HEM HOLDING AB SAYS ‍TELE2’S AND COM HEM’S LARGEST SHAREHOLDER, KINNEVIK AB (PUBL) (“KINNEVIK”), HAS UNDERTAKEN TO VOTE IN FAVOR OF MERGER​

* COM HEM HOLDING AB SAYS ‍TOTAL ANNUAL OPEX, CAPEX AND REVENUE SYNERGIES ESTIMATED AT AROUND SEK 900 MILLION TO BE ACHIEVED WITHIN FIVE YEARS​

* COM HEM HOLDING AB SAYS ‍TRANSACTION IS EXPECTED TO BE FREE CASH FLOW PER SHARE ACCRETIVE FOR TELE2 FROM FIRST YEAR AFTER COMPLETION​

* COM HEM HOLDING AB SAYS ‍ANDERS NILSSON WILL BECOME CEO OF TELE2 FOLLOWING COMPLETION OF MERGER​

* COM HEM HOLDING AB SAYS ‍BOARD OF DIRECTORS OF TELE2 WILL BE CHAIRED BY TELE2’S PROPOSED NEW CHAIRMAN GEORGI GANEV​

* COM HEM HOLDING AB SAYS ‍TELE2 HAS OBTAINED COMMITTED FINANCING FOR MERGER IN FORM OF A BRIDGE FACILITY FROM A GROUP OF THREE BANKS​

* COM HEM HOLDING AB SAYS ‍BOARDS ARE OF OPINION THAT MERGER IS BENEFICIAL TO COMPANIES AND SHAREHOLDERS​

* COM HEM HOLDING AB SAYS ‍MERGER IS EXPECTED TO BE COMPLETED DURING H2 2018​ Source text for Eikon: Further company coverage: (Reporting By Anna Ringstrom)

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