Iliad enters Tele2 and becomes a 20 per cent shareholder
Xavier Niel's group invests EUR 1.2 billion in Swedish operator
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Key points
1' min read
Iliad is relaunching its consolidation of telecoms in Europe. The French group has reached an agreement with Kinnevik to take over a 19.8 per cent stake in the Swedish telephone operator Tele2 for 13 billion kronor, or approximately EUR 1.16 billion.
The transaction, reads a note, was conducted through the vehicle Freya Investissement, which will become Tele2's majority shareholder upon completion. The telco is one of the leading telecommunications companies in the Nordic and Baltic countries and ended 2023 with revenues of 29 billion kroner, or EUR 2.6 billion.
Niel's moves
.Iliad, founded and majority-owned by French billionaire Xavier Niel, is trying to push consolidation in Europe's telecommunications sector.
In 2022, Niel took control of a 2.5% stake in Vodafone. In the same year, he offered over EUR 11 billion to buy the British group's assets, but the proposal was rejected, as was a second attempt last month.
"Thanks to its know-how in telecommunications asset management," says a note, "this strategic investment offers the iliad Group, through Freya, the opportunity to support Tele2 and its management team in its growth and to work closely together in terms of innovation, convergence and investment in the next generation networks.
