Tele2 to receive $169 million as it exits Kazakhstan

Credit: REUTERS/Alexander Demianchuk

Telecom operator Tele2 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.

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)

((helena.soderpalm@thomsonreuters.com; +46 8 700 10 15; Reuters Messaging: helena.soderpalm.reuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Reuters

Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

Learn More