Versatel, Tele2 submit merger proposal

1 Mar 2006

Tele2 Finance and Versatel Telecom International have submitted a merger proposal to Dutch authorities under which Tele2 will acquire the assets and liabilities of Versatel, which will also cease to exist as an individual entity. According to Telecompaper, under the merger plan Versatel shareholders would each receive non-listed shares in Tele2 Holdings in exchange for their existing shares. An extraordinary shareholders meeting has been scheduled for 3 April to discuss the proposal and it is intended that a formal announcement of the merger will take place on the same day. Full details of the merger proposal filed with the Dutch commercial register are available on Versatel’s website.

Netherlands, Tele2 NL (part of T-Mobile Netherlands)