VTB Group acquired 100% of Tele2 Russia from Tele2 AB as a private equity investment. VTB obtained full control of the company for USD 2.4 bln in equity value and USD 1.15 bln in net debt.
VTB plans to support Tele2 Russia in the next stages of its development with a view to realize its investment.
«We are very pleased with the closing of the Tele2 Russia acquisition. We believe that Tele2 Russia is an excellent investment opportunity for VTB».
President and Chairman of VTB Bank Management Board
As reported earlier, the signing ceremony took place in Stockholm, 27th of March 2013.
VTB Capital advised VTB Group on the acquisition of Tele2 Russia.
Tele2 Russia – is a number 4 telecom operator in Russia, which has mobile service licenses in 43 regions and 22.7 mln subscribers as of the end of 2012. 2012 revenues – USD 1.9 bln, net profit – USD 300 mln.Tele2 is one of Europe’s leading telecom operators, offering mobile services, fixed broadband and telephony, data network services, cable TV and content services. Tele2 has 38 mln subscribers in 11 countries. In 2012, net sales amounted to USD 6.7 bln (SEK 43.7 bln).