Tele2 Acquires Minority Stakes in its Russian Mobile Operation in Izhevsk

Tele2 announced today that it has acquired the remaining 25.5 percent in the company "Udmurtia Cellular Communication", in the Russian region of Izhevsk

After this acquisition Tele2 will own 100 percent of the company's shares. Tele2 will pay approximately SEK 300 million (US$37.9 million), a part of the amount will be paid after 12 months of the completion.

Tele2 says that its operation in Izhevsk has been very successful and the company is the region's leading mobile operator.

Posted to the site on 13th July 2009