Tele2 Sells Swiss Subsidiary

Tele2 has sold its Swiss operation to TDC Sunrise for approximately SEK 300 million (US$46 million) in cash on a debt and cash free basis.

At the end of June 2008, Tele2 Switzerland had approximately 105,000 mobile customers, 305,000 fixed telephony customers and 81,000 fixed broadband customers. Tele2 Switzerland affected Tele2's operating revenue in the first half of 2008 by SEK 678 million and EBITDA by SEK -16 million.

The transaction will result in a goodwill impairment loss of approximately SEK -434 million in Q3 2008.

Posted to the site on 29th September 2008