Com Hem delists ahead of Tele2 deal
October 8, 2018
The European Commission has approved the merger of Tele2 AB and Com Hem Holding AB. The board of directors of Com Hem has therefore resolved to apply for delisting of Com Hem’s shares from Nasdaq Stockholm.
The companies say the merger will combine two highly cash generative businesses with clear synergies to create a leading integrated connectivity provider in the Baltic Sea region. Com Hem’s shareholders will receive as merger consideration SEK 37.02 in cash plus 1.0374x B shares in Tele2 for each share in Com Hem outstanding as at completion of the merger.
Anders Nilsson, CEO of Com Hem and incoming President and CEO of Tele2, comments: “As one company, we will be able to offer a portfolio of truly integrated services, with significant benefits for Swedish individuals, households, businesses and our shareholders as a result. My colleagues at both Tele2 and Com Hem can look forward to some very exciting years ahead, and I am sure that I am not the only one with high expectations.”
“My main focus now is our preparations for a rapid and efficient integration, to the benefit of both our employees and customers. Together with the new Leadership Team, I will also make sure to draw from the strength, knowledge and spirit of both the Tele2 and Com Hem organisations, as well as the Tele2 Board of Directors. When closing comes, we will be ready to kick off the integration.”
Allison Kirkby, President and CEO of Tele2 commented: “We are nearing the closing of this merger and my ambition to create a leading integrated connectivity provider in the Baltic Sea region will soon be realised. I am immensely proud of the Tele2 team’s efforts throughout this process, as well as our incredible achievements the past years. I will leave a Tele2 that is stronger and better positioned to act as an integrated customer champion in an ever more digitalised world. Once the merger is closed, I feel confident that the Tele2 team, including its new colleagues from Com Hem, will continue to challenge the status quo and fearlessly liberate people to live a more connected life.”