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Wireless

Tele2 exits Norway, hints at accelerated investment in Netherlands

Tuesday 8 July 2014 | 13:07 CET | Author: Tim Poulus | Background
Tele2 has agreed to sell its Norwegian activities to TeliaSonera for SEK 5.1 billion (EUR 550 million). It expects to realise a profit of SEK 2 billion on the sale. Tele2 said that given the circumstances, the sale will be good for customers, shareholders and the group as a whole. It's not yet clear what it plans to do with the proceeds of the divestment. Paying off debt is not an option, as the operator already has a strong balance sheet. CEO Mats Granryd told Bloomberg that part of it could be invested "to speed up development of the carrier's growth in the Netherlands".

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Categories: Fixed / Mobile & Wireless
Companies: ICE / Tele2 / Telenor / Telia
Countries: Netherlands / Norway
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