Ratos: Overseas Telecom sells holding in MTN Uganda
Overseas Telecom AB, in which Ratos owns approximately 9%, has sold its 32% holding in telecom operator MTN Uganda to MTN International (Mauritius) Ltd, a wholly owned subsidiary of MTN Group Ltd South Africa. The purchase price is approximately SEK 1,200m.
The sale, which is in line with the company's strategy to gradually sell off earlier investments, is expected to provide a capital gain of more than SEK 900m.
Ratos owns just under 9% (just over 19% of the voting rights) of Overseas Telecom and the book value for this holding amounted to SEK 27m at 31 March. Following the sale of MTN Uganda, Overseas Telecom owns 55% of the telecom operator Suntel in Sri Lanka.
For further information, please contact:
Thomas Mossberg, Executive Vice President, Ratos, +46 707 28 33 88
Anders Ekman, CEO of Overseas Telecom, +46 8 456 16 00
Anna-Karin Celsing, Head of Corporate Communications, Ratos, +46 703 99 62 39
Financial calendar from Ratos:
Interim report January-June 2006 24 August 2006
Interim report January-September 2006 10 November 2006
Ratos is a listed private equity company. The business concept is to maximise shareholder value over time by investing in, developing and divesting primarily unlisted companies. Ratos thus offers stock market players a unique investment opportunity. The equity of Ratos's investments is approximately SEK 11 billion. Ratos's holdings include Alimak Hek, Arcus, Anticimex, Atle Industri, Bisnode, Bluegarden, BTJ Group, Camfil, DIAB, Gadelius, GS-Hydro, Haendig, Haglöfs, HL Display, Hägglunds Drives, Industri Kapital, Inwido, Lindab, Overseas Telecom and Superfos.