Tele2: UBS reiterates its advice on the stock

( – UBS remains neutral on the value with an unchanged target of 84 Swedish crowns following the announcement of a new reference shareholder.

iliad has entered into an agreement with Kinnevik for the cash acquisition of approximately 19.8% of the capital of Tele2, for approximately 13 billion Swedish crowns (approximately 1.16 billion euros).

‘We believe that given the quality of Iliad as an operator, Tele2 could perform better, but we do not expect significant changes in the Swedish market,’ says UBS.

This equity investment offers Iliad an ‘opportunity to support Tele2 in its growth and to work closely together on innovation, convergence and investments in new generation networks’ indicated Iliad.

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