Tele2 gets vote of confidence from major shareholder - report

Tele2 gets vote of confidence from major shareholder – report

26 JUN 2014

Investment firm Kinnevik, which holds a 30.4 per cent stake in Tele2, stamped on speculation it was looking to sell up in the operator.

Kinnevik CEO, Lorenzo Grabau, when asked if the Sweden-headquartered company was on his sell list, replied in unequivocal fashion: “Absolutely not. Tele2 is well positioned and has strong brands in its markets.”

Grabau’s remarks were made to Swedish news agency Direkt and picked up by Reuters.

There had been some speculation that Hutchison Whampoa, which partly owns 3 Sweden, was in the running to buy Kinnevik’s stake (which also carries 48 per cent voting rights).

Failing to win 4G spectrum in Norway last December has cast a shadow over Tele2. Grabau added that Tele2 management continues to look at different alternatives for the company’s operations in Norway.

Mats Granryd, Tele2 CEO, said earlier this year he was calling on the group’s businesses in the Netherlands and Kazakhstan to “maintain their momentum within mobile” and for Tele2 Sweden to “cement its position in mobile data services”.

“I see 2014 as a year when we remove uncertainty around Tele2,” he said.

Author

Ken Wieland

Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight...More

Read more

Related

Tags