Tele2 to receive $169 million as it exits Kazakhstan

Credit: REUTERS/Alexander Demianchuk

STOCKHOLM, May 23 (Reuters) - Telecom operator Tele2 TEL2b.ST has agreed with Kazakhtelecom on the price for its equity share from the joint venture between the two companies in Kazakhstan, it said on Thursday.

The Swedish company will get net proceeds, after deducting the existing earn-out liability, of $169 million, and full repayment of its shareholder loan of around 2.1 billion crowns ($217.8 million).

Tele2 said the deal valued the joint venture at an enterprise value of $800 million, while the transaction was expected to close at the end of June.

($1 = 9.6415 Swedish crowns)

(Reporting by Helena Soderpalm; Editing by Simon Johnson)

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