Kinnevik has sold its 19.8% stake in Swedish operator Tele2 to Xavier Niel’s Iliad Group.
The SEK 13 billion (€1.1 billion) transaction has been made through Freya Investment, held jointly by Iliad and NJJ Holding.
Subject to regulatory approval it will make Iliad the largest shareholder in the company.
Thomas Reynaud, Managing Director of the iliad Group and Freya: “iliad and Tele2 have a lot in common. We believe in the power of innovation and the entrepreneurial spirit. Our industry is demanding. We therefore have great respect for what the shareholders, management and teams of Tele2 have achieved, and are delighted that Kinnevik has chosen Freya as Tele2’s new reference shareholder. We look forward to contributing to Tele2’s next chapter of growt.”
Iliad is the parent company of Free in France, Iliad in Italy and Play and UPC Polska in Poland.
