French telecommunications participant Iliad Group, by way of its funding automobile Freya Investissement (collectively owned by Iliad and NJJ Holding), has entered right into a binding settlement to accumulate round a 19.8 p.c 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.
Additionally Learn: Iliad Secures EUR 300 Million EIB Mortgage for 5G Rollout in France
Strategic Stake Acquisition
“After the approval by the related authorities, Freya will change into 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 way of Freya, a possibility to additional Tele2’s development and to collaborate with Tele2’s administration crew on innovation, convergence, and investments in next-generation networks.”
An announcement 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 method. The primary tranche (31,329,972 B Shares), representing 4.5 p.c of the share capital of Tele2, will happen shortly, with subsequent tranches pending regulatory approvals.
The closing of Tranche 2 is anticipated to happen in the course of the second quarter of 2024, and the closing of Tranche 3 is anticipated to happen, on the newest, in the course of the third quarter of 2024.
Additionally Learn: Iliad Sells Stake in OnTower Poland to Cellnex
Commenting on the event, Iliad Group stated, “The Iliad Group and the Tele2 Group have loads in frequent. We each consider within the energy of innovation and the significance of an entrepreneurial mindset. Our enterprise sector in Europe is very demanding. So, we now have an excessive 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 sit up for contributing to the following chapter of Tele2’s development story!”
Iliad Group is the mother or father 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 stuck web.
