Tele2: UBS still on hold

(CercleFinance.com) - UBS remains neutral on the stock with an unchanged target of 84 SEK following the announcement of a new reference shareholder.


iliad has reached an agreement with Kinnevik for the cash acquisition of around 19.8% of Tele2's share capital, for around SEK 13 billion (around ?1.16 billion).

UBSsays that "We think that given Iliad's quality as an operator Tele2 may execute better but we do not expect material changes to the Swedish market".

This acquisition offers iliad an opportunity to accompany Tele2 in its growth and to work closely together on innovation, convergence and investment in next-generation networks, Iliad says.


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