Tele2 Germany exits partnership with QSC in Joint Venture Plusnet
(Thomson Reuters ONE) -
Stockholm - Tele2 AB (Tele2), (NASDAQ OMX Stockholm: TEL2 A and TEL2 B) today
announced that it has decided to exit its partnership with QSC in joint venture
Plusnet GmbH & Co KG ("Joint Venture"). Tele2 Germany will pay in net
approximately SEK 280 million to get an early termination of the Joint Venture
agreement and to sell its 32.5 percent ownership to QSC. Completion of the
transaction is expected following approval from the national regulatory
authority.
Tele2 Germany currently develops its network independent service portfolio for
the residential market and has yearly paid an operational expenditure of
approximately SEK 160 million and a capital expenditure of approximately SEK 20
million to the Joint Venture. By exiting the joint venture agreement Tele2 will
save a total of approximately SEK 600 million, offsetting the cost for
terminating the agreement early. As a result of the completion of the
transaction Tele2 Germany will enter into a new vendor agreement based on
commercial terms with QSC for xDSL and telephony services.
Henrik Ringmar, Market Area Director Western Europe, comments: "In order to
provide our German customers with the best deal over the coming years we are
convinced that the right way forward for us in Germany is to act as a pure
service provider. Through the exit of the network company Plusnet, we achieve
this objective while being able to enjoy the cost savings that the transaction
will bring us. We are also very satisfied with the wholesale prices that QSC has
offered us.
The transaction will result in a negative one-off item of approximately SEK 220
million.
Contacts
Lars Torstensson, Investor Inquiries, Telephone: +46 702 73 48 79
Pernilla Oldmark, Press Inquiries, Telephone: +46 704 26 45 45
TELE2 IS ONE OF EUROPE'S LEADING TELECOM OPERATORS, ALWAYS PROVIDING THE BEST
DEAL. We have 30 million customers in 11 countries. Tele2 offers mobile
services, fixed broadband and telephony, data network services, cable TV and
content services. Ever since Jan Stenbeck founded the company in 1993, it has
been a tough challenger to the former government monopolies and other
established providers. Tele2 has been listed on the NASDAQ OMX Stockholm since
1996. In 2009, we had net sales of SEK 39.5 billion and reported an operating
profit (EBITDA) of SEK 9.4 billion.
Press release:
http://hugin.info/133413/R/1475225/411312.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Tele2 AB via Thomson Reuters ONE
[HUG#1475225]
Datum: 23.12.2010 - 08:01 Uhr
Sprache: Deutsch
News-ID 50031
Anzahl Zeichen: 3231
contact information:
Town:
Stockholm
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 540 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Tele2 Germany exits partnership with QSC in Joint Venture Plusnet"
steht unter der journalistisch-redaktionellen Verantwortung von
Tele2 AB (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
