Investment company Kinnevik insisted the time is right to complete an exit from its holding in Tele2 Group, lining up its third and final stake sale to Freya Investissement, an investment vehicle jointly owned by Iliad Group and its chair Xavier Niel through NJJ Holding.
Kinnevik agreed to offload its remaining 6.5 million Tele2 class A shares for SEK637 million ($62.1 million).
The company agreed the three-stage sale to Freya Investissement in February, with the initial move completed by early April and the later moves coming after the companies secured the necessary regulatory approvals.
Kinnevik stated “all conditions required for completion” of the sale to Freya Investissement had been fulfilled. The move means the NJJ Holding investment vehicle is now the largest single Tele2 backer.
Sweden-based Kinnevik began reducing its Tele2 stake in 2022, when it revealed the sale of a 7.2 per cent stake, leaving it with just shy of 20 per cent.
At the time, Kinnevik explained it was looking to beef-up its finances during a period of uncertainty, along with freeing up resources to focus on the most promising businesses in its portfolio and potential new opportunities.
The post Kinnevik concludes Tele2 stake sale appeared first on Mobile World Live.
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