Telia Company concludes Yoigo sale

7 Oct 2016

Sweden’s Telia Company’s has completed the divestment of its 76.6% holding in the Spanish operator Yoigo to Grupo MASMOVIL, with the deal having gained all necessary regulatory approvals.

As previously reported by CommsUpdate, in June 2016 Telia Company revealed that the transaction price for the deal was based on an enterprise value for Yoigo of EUR625 million (USD699 million), meaning the Swedish outfit’s shareholding corresponded to a value of around EUR479 million. Telia Company has said it expects the stake divestment to generate a capital gain of more than SEK4 billion (USD464 million) and, following debt adjustments, the transaction is expected to reduce net debt for Telia Company by approximately SEK6 billion.

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