Tele2 to sell Russian operations for USD 2.4 bln

Thursday 28 March 2013 | 08:43 CET | News
Tele2 has agreed to sell its mobile operations in Russia to the bank VTB for USD 2.4 billion plus USD 1.15 billion in net debt. The deal values Tele2 Russia, the fourth-largest mobile operator in Russia with almost 23 million customers, at 4.9 times EBITDA for 2012. Tele2 said it expects a capital gain of SEK 15.6 billion on the sale, of which SEK 12.5 billion or SEK 28 per share will be distributed to shareholders. The remainder will be re-invested in its business, with a renewed focus on the markets Sweden, the Netherlands, Norway and Kazakhstan. VTB said it sees the takeover as a good

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Categories: Mobile & Wireless
Companies: Alfa / Tele2 / Tele2 Russia / Vimpelcom
Countries: Russian Federation
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