Kinnevik to distribute Millicom stake to shareholders, change dividend policy
17/09/2019 12:17
STOCKHOLM, Sept 17 (Reuters) - Swedish investment firm
Kinnevik KINVb.ST said on Tuesday it planned to distribute its
entire 37.2% holding in telecom operator Millicom TIGOsdb.ST
to its shareholders.
The company also said it would change its dividend payout
policy, ceasing to pay ordinary cash dividends and instead pay
out excess capital generated by its investment activities in the
form of extraordinary dividends.
The company said it planned to propose the dividend to an
extraordinary shareholders' meeting in time for the distribution
to be carried out before the end of 2019.
Kinnevik's shares fell on the news and were down 2.2% at
1112 GMT while Millicom's Swedish-listed shares fell 3.4%.
(Reporting by Johannes Hellstrom; editing by Niklas Pollard)
((johannes.hellstrom@thomsonreuters.com; +4687001008; Reuters
Messaging: johannes.hellstrom.reuters.com@reuters.net))