TGS Baltic together with Cederquist has been an advisor to Kinnevik in connection with the sale of its entire holding in Tele2
Kinnevik, a Swedish investment company, announced that it has agreed to sell all its holdings in Tele2 to Freya Investissement, an investment vehicle jointly controlled by the European telecommunications group iliad and its Chairman and founder Xavier Niel via NJJ Holding, for a total of SEK 13 billion.
The Tele2 shareholding will strengthen iliad/NJJ’s current European telecommunications businesses in France, Italy, Poland, Switzerland, Monaco, Ireland, Cyprus, and Malta.
This purchase will be completed in three steps, with a first closing of SEK 2.9 billion. The two remaining steps are subject to iliad/NJJ receiving necessary regulatory clearances, and the third step additionally remains subject to iliad/NJJ reclassifying Tele2 Class A shares to Class B shares, resulting in iliad/NJJ holding less than 30% of Tele2’s voting interest after the transaction is completed.
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