April 11, 2013 - Assignment

Tele2 AB divests Tele2 Russia to VTB Group

Tele2 AB has sold Tele2 Russia to VTB Group in a cash transaction comprising USD 2.4 billion (approximately SEK 15.6 billion) in equity value and USD 1.15 billion (approximately SEK 7.5 billion) in net debt.  

Tele 2 Russia is the 4th largest Russian mobile operator with almost 23 million subscribers and had net sales in 2012 of approximately SEK 13 billion and approximately 3,500 employees. Tele2 is one of Europe's leading telecom operators. The company was founded in 1993 and has been listed on the NASDAQ OMX Stockholm since 1996. In 2012, Tele2 had net sales of SEK 43.7 billion.

Tele2 was advised by Mannheimer Swartling in the transaction. The firm’s team, headed by Biörn Riese and Eva Hägg, included Per Josefson, Daniel Karlsson, Anna Sukharina, Joel Englund, Ola Espelund, Vilhelm Mann, Gustaf Hygrell, Johan Lindström and Stephanie Salehian. Tele2 was also advised by Davis Polk and NautaDutilh.