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French telecommunications participant Iliad Group, by its funding car Freya Investissement (collectively owned by Iliad and NJJ Holding), has entered right into a binding settlement to accumulate round a 19.8 % stake in Tele2, a telecom firm working in Sweden and the Baltics. The transaction, valued at roughly EUR 1.16 billion (SEK 13.0 billion), solidifies Freya’s place as Tele2’s reference shareholder, paving the best way for collaborative efforts in innovation and community investments.
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Strategic Stake Acquisition
“After the approval by the related authorities, Freya will grow to be the reference shareholder of Tele2 upon closing of the transaction,” the Iliad assertion stated. “With its experience and know-how in managing telecom property, the acquisition of this strategic stake will provide the Iliad Group, by Freya, a chance to additional Tele2’s progress and to collaborate with Tele2’s administration workforce on innovation, convergence, and investments in next-generation networks.”
A press release launched on Monday stated that underneath the settlement, Freya will buy each Class A and Class B shares from Kinnevik, a significant shareholder in Tele2. The acquisition has been structured into three tranches to facilitate a phased strategy. The primary tranche (31,329,972 B Shares), representing 4.5 % of the share capital of Tele2, will happen shortly, with subsequent tranches pending regulatory approvals.
The closing of Tranche 2 is anticipated to happen throughout the second quarter of 2024, and the closing of Tranche 3 is anticipated to happen, on the newest, throughout the third quarter of 2024.
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Commenting on the event, Iliad Group stated, “The Iliad Group and the Tele2 Group have so much in widespread. We each imagine within the energy of innovation and the significance of an entrepreneurial mindset. Our enterprise sector in Europe is extremely demanding. So, now we have a substantial amount of respect for what Tele2’s shareholders, administration and groups have achieved, and we’re delighted that Kinnevik has chosen Freya as Tele2’s new reference shareholder. We look ahead to contributing to the following chapter of Tele2’s progress story!”
Iliad Group is the dad or mum firm of Free in France, Iliad in Italy, and Play in Poland, serving 47.8 million subscribers. The Iliad Group is Europe’s sixth-largest operator by the variety of retail cell subscribers (excluding M2M) and glued web.
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