France's Iliad to take $1.3 bln stake in Sweden's Tele2 (updated)

Tele2 AB

26/02/2024 07:09

(Recasts to focus on buyer, adds detail on transaction)
       COPENHAGEN, Feb 26 (Reuters) - 
    French investor Xavier Niel and his Iliad telecoms group
have agreed to buy a 19.8% stake in Swedish telecoms operator
Tele2  TEL2b.ST  for 13 billion crowns ($1.26 billion),
investment company Kinnevik  KINVb.ST  said in a statement on
Monday.
  
        Niel and his companies will buy the stake from Kinnevik,
the largest shareholder in Tele2, through Freya Investissement.
  
        The transaction will take place in three steps with a
first close of 2.9 billion crowns while the rest is conditional
on regulatory approvals, Kinnevik said in a statement.
  
    
($1 = 10.3210 Swedish crowns)

 (Reporting by Louise Breusch Rasmussen, editing by Anna
Ringstrom and Terje Solsvik)
 ((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79;))