Iliad to Acquire 19.8 Percent Stake in Swedish Telco Tele2

French telecommunications player Iliad Group, through its investment vehicle Freya Investissement (jointly owned by Iliad and NJJ Holding), has entered into a binding agreement to acquire around a 19.8 percent stake in Tele2, a telecom company operating in Sweden and the Baltics. The transaction, valued at approximately EUR 1.16 billion (SEK 13.0 billion), solidifies Freya’s position as Tele2’s reference shareholder, paving the way for collaborative efforts in innovation and network investments.

• Make Telecom Talk My Trusted Source
• 
• 

Also Read: Iliad Secures EUR 300 Million EIB Loan for 5G Rollout in France

Strategic Stake Acquisition

“After the approval by the relevant authorities, Freya will become the reference shareholder of Tele2 upon closing of the transaction,” the Iliad statement said. “With its expertise and know-how in managing telecom assets, the acquisition of this strategic stake will offer the Iliad Group, through Freya, an opportunity to further Tele2’s growth and to collaborate with Tele2’s management team on innovation, convergence, and investments in next-generation networks.”

A statement released on Monday said that under the agreement, Freya will purchase both Class A and Class B shares from Kinnevik, a major shareholder in Tele2. The acquisition has been structured into three tranches to facilitate a phased approach. The first tranche (31,329,972 B Shares), representing 4.5 percent of the share capital of Tele2, will take place shortly, with subsequent tranches pending regulatory approvals.

The closing of Tranche 2 is expected to occur during the second quarter of 2024, and the closing of Tranche 3 is expected to occur, at the latest, during the third quarter of 2024.