Tele2 Sweden acquires remaining 50 percent of Spring Mobil
Stockholm - Tele2 AB (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B) today announced that it has acquired the remaining 50 percent of Spring Mobil from Swefour AB for approximately SEK 100 million on a cash and debt free basis. Spring Mobil operates on the Swedish Business market with so-called One Phone solutions. Completion is conditional upon approval by the Competition authority.
Niclas Palmstierna, CEO Tele2 Sweden commented: Spring Mobil complements Tele2’s existing product portfolio and will improve our position in the corporate market. As a wholly owned subsidiary, we can fully benefit from the synergies that exist between Tele2 and Spring Mobil and the transaction will contribute positively to the company’s growth opportunities.
After the acquisition Tele2 will own 100 percent of Spring Mobil. In 2009 Spring Mobil had net sales of approximately SEK 206 million.
TELE2 IS ONE OF EUROPE’S LEADING TELECOM OPERATORS, ALWAYS PROVIDING THE BEST DEAL. We have 28 million customers in 11 countries. Tele2 offers mobile services, fixed broadband and telephony, data network services, cable TV and content services. Ever since Jan Stenbeck founded the company in 1993, it has been a tough challenger to the former government monopolies and other established providers. Tele2 has been listed on the NASDAQ OMX Stockholm since 1996. In 2009, we had net sales of SEK 39.5 billion and reported an operating profit (EBITDA) of SEK 9.4 billion.
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