European Commission issues unconditional approval for merger between Tele2 and T-Mobile Netherlands
Stockholm – Today the European Commission (“EC”) approved the merger of Tele2 AB’s (“Tele2”) (Nasdaq Stockholm: TEL2 A and TEL2 B) Dutch operations (“Tele2 NL”) and T-Mobile Netherlands without conditions. The combined company will create a strong alternative to the incumbents for Dutch consumers and businesses.
The merger between Tele2 NL and T-Mobile NL was announced on December 15, 2017, and has since gone through a regulatory process including a Phase II investigation by the EC. Following constructive discussions between the two merging companies and the EC, the merger was approved today with no requirement to offer remedies.
“I am delighted that the EC has unconditionally approved our merger in the Netherlands. We are excited to partner with T-Mobile to form a strong customer champion which will accelerate competition and investment in the Dutch market ”, says Anders Nilsson, President and CEO of Tele2.
“Our partnership with T-Mobile will create a force to be reckoned with in the Netherlands, with Tele2’s strong brand and fixed assets complementing T-Mobile’s world-class mobile network. I am immensely proud of the performance of the Tele2 team, who have continued driving the business with great energy. Now our focus will be on ensuring a successful integration for both customers and employees”, says Jon James, CEO of Tele2 Netherlands.
The merger is expected to close at the beginning of January 2019. The combined company will continue to operate the Tele2 brand in the Netherlands. Tele2 will hold a 25 percent share in the combined company and receive a cash payment of around EUR 190 million upon closing, subject to standard closing adjustments.
For more information, please contact:
Joel Ibson, Head of Public Relations, Tele2 AB, Phone: +46 766 26 44 00
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 17:57 CEST on November 27, 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 eight countries enjoy a fast and wireless experience through our award winning networks. Tele2 has been listed on Nasdaq Stockholm since 1996. In 2017, Tele2 generated revenue of SEK 25 billion and reported an adjusted 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.
November 5, 2018, Tele2 successfully merged with the Com Hem Group, a leading supplier of broadband, TV, play and telephony services in Sweden with 1.45 million customers. In 2017, the Com Hem Group generated revenue of SEK 7.1 billion. The combined company will publish its first consolidated interim report in February 2019.