Kinnevik to Sell Tele2 Stake to Iliad-Backed Freya for $1.26 Bln [MarketWatch]
TELE2 AB UNSP/ADR (TLTZY)
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Source: MarketWatch
The Swedish investment company said it will sell its 20.7 million Class A shares at SEK101 each and its 116.9 million Class B shares at SEK93 each to Freya, an investment vehicle jointly controlled by French telecom group Iliad and its chairman Xavier Niel through NJJ Holding. Advertisement The average blended purchase price of SEK94.2 a share implies a 13% premium in relation to the closing price of the Tele2 Class B share on Friday, it added. The transaction will be completed in three steps, with Freya first acquiring 31.3 million Class B shares for SEK2.9 billion. In the second step, Freya will acquire 14.2 million Class A shares and 85.5 million Class B shares in Tele2 for SEK9.4 billion following foreign direct investment clearances in Sweden, Latvia and Lithuania, which are expected during the second quarter of 2024. In the final step, Freya will acquire Kinnevik's remaining 6.5 million Tele2 Class A shares for SEK700 million after receipt of necessary regulatory clea
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