Kinnevik has announced the acquisition of an 18.5% stake in Swedish cable operator Com Hem.
Its purchasing shares held by NorCell S.à r.l., the indirect investment holding company of funds advised by BC Partners LLP, for SEK3.7 billion (€390 million).
“Com Hem has a strong market position in the Swedish broadband and TV market, and offers attractive growth and cash flow. The acquisition enables Kinnevik to take a leading position in an asset complementing our existing mobile and media companies,” said Kinnevik’s acting CEO, Joakim Andersson.
Kinnevik is no stranger to the media and telecoms market. It also holds a 20% stake in MTG and 30% in mobile telephony company Tele 2.
Com Hem has around 1.5 million subscribers through its Swedish cable network and the DTT operation. Founded in 1983, it has 1,110,000 employees.
