Tele2 to own 98 percent of Tele2 Netherlands Holding

Tele2 AB announced Monday purchase of 19 percent stake in Tele2 Netherlands Holding NV for 1.15 bln skr (175.1 millionm dollars).

Photo: Tele2 to own 98 percent of Tele2 Netherlands Holding

Tele2 to own 98 percent of Tele2 Netherlands Holding

The company will own 98 percent of Tele2 Netherlands Holding.

Tele2 AB is one of Europe's biggest alternative telecommunications operators with over 30 million customers in 22 countries. It serves as a fixed-line telephone operator, cable television provider, mobile phone operator, internet service provider and a content provider.

In June 2007 Tele2 has sold Tele2 Hungary to Hungarian Telephone and Cable Corp (HTCC), for 40 mln skr on a debt and cash free basis, with the sale having a positive one time effect on Tele2's results of approximately 20 mln skr. Tele2 said the divestment was done in order to continue to concentrate its operations in markets where it has a stronger position and expectations of higher profitability. At the end of May 2007, Tele2 Hungary had approximately 490,000 fixed telephony customers, and in 2006 Tele2 Hungary had sales of 374 mln skr and EBITDA of minus 31 mln.

On 6 October 2007, it has been announced that the operations of Tele2 in Italy and Spain have been sold to Vodafone.