Tele2 Confirms It Might Sell Norwegian Subsidiary Network
Published on: 5th Mar 2014
Note -- this news article is more than a year old.
By: Ian Mansfield
Sweden's Tele2 has announced that it is looking at a possible sale of its Norwegian subsidiary after the company failed to win additional radio spectrum in last December's auction.
The company said that among the possible options are entering a strategic partnership, divesting Tele2 Norway to one or several parties, or continuing growing the business organically within the Tele2 Group.
ABG Sundal Collier Holding has been hired to advise on the different options.
Mats Granryd, CEO and president of Tele2 AB, comments: "As previously communicated we are evaluating our different opportunities for our Norwegian businesses. Exploring various strategic options is an on-going part of our responsibility towards our shareholders. However, we cannot speculate on the potential outcomes of any such discussions".
The Norwegian subsidiary represented about 13% of the Group's revenues in the last financial quarter. It ended the year with 1.12 million customers.
The company has been estimated to be worth around USD620 million.