Tele2 to sell Tele2 France to Virgin Mobile France

Fri. October 16, 2009; Posted: 03:22 PM

Oct 16, 2009 (Datamonitor Financial Deals Tracker via COMTEX) -- TLTOB | Quote | Chart | News | PowerRating -- Tele2 AB, a Sweden-based telecommunications operator, has agreed to sell its subsidiary Tele2 France to Virgin Mobile France, a cellular telephone company, for approximately SEK575 million ($83.1 million) in cash on a debt and cash free basis.

Tele2 France is a mobile virtual network operator (MVNO).

Deal Value (US$ Million) 83.1
Deal Type                Acquisition
Sub-Category             Majority Acquisition
Deal Status              Announced: 2009-10-15

Deal Participants

Target (Company)   TELE2 Mobile SAS
Acquirer (Company) Virgin Mobile France
Vendor (Company)   Tele2 AB

Deal Rationale

The acquisition will allow Virgin Mobile to reduce its operating costs by strengthening its relationship with network operators, and will also help the company cut costs and drive major economies of scale.

For full details for TLTOB click here.

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