Tele2 becomes Sweden's second largest converged operator

News

The acquisition of cable and broadband company Com Hem by the mobile operator is now complete.

Tele2 Sweden's proposal to buy Com Hem for SKr27 billion (€2.667 billion) was announced in January. It was no surprise: the Kinnevik investment group is the biggest shareholder in both companies and has long sought to pave the way to converged operations.

In January, a statement said the converged operator expected to generate SKr900 million in synergies over five years.

Deal concluded

The Swedish Companies Registration Office concluded the merger process and all of Com Hem Holding’s assets and liabilities have been transferred to Tele2. The merged entity will maintain the company name Tele2 AB.

Anders Nilsson is appointed President and CEO of Tele2 and said, "Together, united as Tele2, we represent huge potential and will be able to offer significant benefits to Swedish individuals, households, businesses and our shareholders”, says Anders Nilsson, President and CEO of Tele2.

“Tele2 was already a fantastic company and it will become even stronger with our colleagues from Com Hem. We will continue to challenge and drive the development of new, smart and integrated services, while we fearlessly liberate people to live a more connected life,” Anders continues.