Kicking off a major divestment plan, Swedish telecom operators Tele2 and Deutsche Telekom have announced to sell jointly-owned T-Mobile Netherlands to private equity groups Apax Partners and Warburg Pincus for an enterprise value of 5.1 billion euros ($6.05 billion). Tele 2 said the deal valued its 25% stake at 860 million euros.
“This successful sale will conclude Tele2’s international consolidation and we will now continue our strategy to focus on our core operations in Sweden and the Baltics,” Tele2 CEO Kjell Johnsen said in a statement.
Following the announcement, the Tele2 Board of Directors has indicated to propose an extraordinary dividend of at least 11 Swedish crowns ($1.29) per share, pending closing of the transaction and the receipt of cash proceeds.
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