Kinnevik acquires 18.5% stake in Com Hem

28 Apr 2017

Swedish industrial and communications group Kinnevik, which is the largest shareholder in telecoms group Tele2, has agreed to acquire 33.9 million shares (corresponding to an approximate 18.5% interest) in domestic cableco Com Hem from Nordic company NorCell (indirect investment holding company of UK-based private equity firm BC Partners), for a cash consideration of SEK3.7 billion (USD420 million) in total. The deal is expected to close on 4 May. The acquisition will be fully financed by cash at hand and existing credit facilities and capital market programmes. Kinnevik’s acting CEO Joakim Andersson commented: ‘Com Hem has a strong market position in the Swedish broadband and TV market, and offers attractive growth and cash flow. The acquisition enables Kinnevik to take a leading position in an asset complementing our existing mobile and media companies.’

Sweden,Com Hem, Tele2 Sweden,

Subscribe



Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share