Kinnevik buys 18.5% of Com Hem from BC Partners' NorCell

News Broadband Sweden 27 APR 2017
Kinnevik buys 18.5% of Com Hem from BC Partners' NorCell

Investment company Kinnevik said that it has agreed to acquire 33.9 million shares, corresponding approximately to an 18.5 percent stake, in Swedish fixed line operator Com Hem from NorCell, the indirect investment holding company of funds advised by BC Partners. It will pay SEK 110 cash per share, or SEK 3.7 billion in total. The deal is expected to close on 04 May.

Kinnevik's acting CEO, Joakim Andersson, said Com Hem has a strong market position in the Swedish broadband and TV market, and offers attractive growth and cash flow. The acquisition enables Kinnevik to take a leading position in an asset complementing its existing mobile and media companies. The Swedish investor also holds stakes in Tele2, MTG, Millicom and Rocket Internet, among other companies. 

Categories:

Fixed

Companies:

Com Hem

Countries:

Sweden

Tags:

Shareholders & subsidiaries, Wireline, Internet Access, M&A buyouts & divestments

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