European Commission initiates Phase II investigation into Dutch merger between Tele2 and T-Mobile
Stockholm – Tele2 AB (Nasdaq Stockholm: TEL2 A and TEL2 B): The European Commission (EC) has today announced its decision to initiate a Phase II investigation into the merger of Tele2 Netherlands (Tele2 NL) and T-Mobile Netherlands (TMNL). This is as expected and is in line with the joint guidance from Tele2 NL and TMNL that the transaction will close during H2 2018.
In partnership with T-Mobile, Tele2 is having constructive discussions with the EC and will continue to work closely to obtain clearance. The EC now has 90 working days to reach a final decision on the compatibility of the transaction with EU merger rules; in principle, this implies a decision in Q4 2018.
Tele2 NL and TMNL announced their joint ambition to merge their operations on December 15, 2017. The combined company will represent a strong competitive challenge to the duopoly in the Netherlands, where the two existing FMC players currently control more than 80% of the Dutch mobile and fixed telecommunications market.
For more information, please contact:
Viktor Wallström, EVP Group Communications, Tele2 AB, Phone: +46 703 63 53 27
Erik Strandin Pers, Head of Investor Relations, Tele2 AB, Phone: +46 733 41 41 88
This information is information that Tele2 AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 16:45 CEST on June 12, 2018.
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 8 countries enjoy a fast and wireless experience through our award winning networks. Tele2 has been listed on the NASDAQ OMX Stockholm since 1996. In 2017, Tele2 had net sales of SEK 25 billion and reported an EBITDA of SEK 6.4 billion. For definitions of measures, please see the last pages of the Annual Report 2017. Follow @Tele2group on Twitter for the latest updates.