3i divests its holdings in Sweden On Line
3i divests its holdings in Sweden On Line · 3i Group plc is divesting all its holding in Sweden On Line · The buyer Telenor is paying SEK 195 m for 100 % of Sweden On Line · 3i's former holding in Sweden On Line was 50 % 3i Group plc is selling its 50 % holding in Sweden On Line to Norwegian telecom group Telenor, in a deal valuing Sweden On Line at SEK 195 m. The transaction is subject to approval by the Swedish Competition Authority. Sweden On Line was formed in 1986; it is now Sweden's third-largest nationwide cable TV operator, with some 185,000 households connected. Operations encompass cable TV, the Internet and other datacommunication. Sweden On Line's nationwide broadband network enables the ongoing development and distribution of new TV and IT applications, plus control and automation technology. Sweden On Line's customers are landlords, tenant-owner associations, municipalities and corporations. Sweden On Line was acquired by Atle in 1994, whereupon its strategy was refined and concentrated. In spring 2001, Atle was acquired by international investment company 3i. For more information, please contact: Bengt Paulsson, 3i Sweden, adviser to the 3i Group plc +46 (0)70 591 7294 About 3i 3i brings capital, knowledge and connections to the creation and development of businesses around the world. It invests in a wide range of opportunities from start-ups to buy-outs and buy-ins, focusing on businesses with high growth potential and strong management. 3i invests in businesses across three continents through local investment teams in Europe, Asia Pacific and the USA. To date, 3i has invested over £13.5 billion (including co-investment funds). In the 12 months to 31st March 2001, an average of £7.8 million (including co-investment funds) was invested each working day. 3i's current portfolio is valued at almost £6 billion. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/09/03/20010903BIT00360/bit0001.doc http://www.waymaker.net/bitonline/2001/09/03/20010903BIT00360/bit0001.pdf