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Tele2 exits Austria in sale to 3 Group for EUR 95 million

Staff Writer |
Tele2 has agreed to sell its Austrian business Tele2 Austria to Hutchison Drei Austria (Three Austria) for an enterprise value of EUR 95 million.

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The transaction provides an opportunity for Tele2 to realise value from a combination with Three Austria, and better position the business to meet future customer needs in the Austrian market.

Tele2 Austria had net sales of SEK 1.1 billion and an EBITDA of SEK 185 million in 2016.

The customer base amounted to 217 000 and the operations had 241 employees at the end of 2016.

Tele2 will receive a consideration of EUR 85 million at closing and up to EUR 10 million in the form of an earn-out to be paid over 12-24 months depending on the success of the integration process.

Closing is expected to occur after customary competition approval which is anticipated within the next months.

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