Kinnevik to distribute Millicom stake to shareholders, change dividend policy

STOCKHOLM, Sept 17 (Reuters) - Swedish investment firm Kinnevik said on Tuesday it planned to distribute its entire 37.2% holding in telecom operator Millicom to its shareholders.

The company also said it would change its dividend payout policy, ceasing to pay ordinary cash dividends and instead pay out excess capital generated by its investment activities in the form of extraordinary dividends.

The company said it planned to propose the dividend to an extraordinary shareholders’ meeting in time for the distribution to be carried out before the end of 2019.

Kinnevik’s shares fell on the news and were down 2.2% at 1112 GMT while Millicom’s Swedish-listed shares fell 3.4%. (Reporting by Johannes Hellstrom; editing by Niklas Pollard)