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Tele2 to sell Croatian business to United Group for 220 million euros

Christian Fernsby |
Tele2 AB has agreed to sell its Croatian business to United Group for an enterprise value of EUR 220 million.

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The transaction provides an opportunity for Tele2 to realize value from the successful development of the Croatian business and to further advance its strategy with a focus on the Baltic Sea region.

Closing is expected before the end of 2019 and is subject to regulatory approval.

The transaction requires approval from relevant regulatory bodies including the Croatian Competition Agency.

It does not require filing with the European Commission.

Closing is expected before the end of 2019.

Following the agreement After closing of the transaction Tele2’s Board of Directors will decide on the use of proceeds, taking into account the Group’s investment needs and its policies for shareholder remuneration and financial leverage.