Tele2 divests Tele2 France to Virgin Mobile for approximately SEK 575 million
Stockholm - Tele2 AB, (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B) today announced that is has sold its French operations to Virgin Mobile. Virgin Mobile will pay in cash approximately SEK 575 million on a debt and cash free basis. Completion is expected following approval from relevant regulatory authorities.
At the end of June 2009, Tele2 France had approximately 429,000 mobile customers. Tele2 France affected Tele2's operating revenue in 2008 and the H1 2009 by SEK 1,233 million and SEK 637 million, respectively, and EBITDA by SEK 6 million and SEK 55 million, respectively. The transaction will result in a goodwill impairment loss of approximately SEK 526 million in Q3 2009. As an effect of the divestment, Tele2's French operation will be treated as discontinued operations.
Tele2 is one of Europe's leading alternative telecom operators. Tele2's mission is to provide affordable and easy connectivity for everyone at anytime. Tele2 always strives to offer the market's best prices. We have 25.4 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 2008, we had net sales of SEK 39.5 billion and reported an operating profit (EBITDA) of SEK 8.2 billion.
TELE2’S MISSION IS TO FEARLESSLY LIBERATE PEOPLE TO LIVE A MORE CONNECTED LIFE. We believe the connected life is a better life, and so our aim is to make connectivity increasingly accessible to our customers, no matter where or when they need it. 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 offers mobile services, fixed broadband and telephony, data network services, content services and global IoT solutions. Every day our 17 million customers across 9 countries enjoy a fast and wireless experience through our award winning networks. Tele2 has been listed on the NASDAQ OMX Stockholm since 1996. In 2016, Tele2 had net sales of SEK 28 billion and reported an operating profit (EBITDA) of SEK 5.3 billion. For definitions of measures, please see the last pages of the Annual Report 2016. Follow @Tele2group on Twitter for the latest updates.