Tele2 has completed the sale of its Croatian subsidiary to United Group.
In a note, it says that as communicated on February 3, its board of directors intends to distribute the proceeds from the sale of Tele2 Croatia, along with additional cash available after re-levering growth in underlying EBITDAaL, through an extraordinary dividend of SEK3.50 per share which will be proposed to Tele2’s Annual General Meeting on May 11, 2020.
As previously reported by Broadband TV News, United Group agreed to buy Tele2 Croatia last June in a deal worth €220 million.
The proposed transaction was subsequently investigated by the Croatian Competition Agency