Tele2 completes sale of Tele2 Hungary to HTCC

18 Jul 2007

Sweden-based pan-European operator Tele2 has confirmed the sale of its Tele2 Hungary unit to Hungarian Telephone and Cable Corp (HTCC), for SEK40 million (USD6 million) on a debt and cash free basis, with the sale having a positive one time effect on Tele2’s results of approximately SEK20 million. The sale of the unit is in line with Tele2’s stated strategy of concentrating on markets where it already has a strong market position and expectations of higher profitability.

Hungary, Sweden, Invitel (a subsidiary of DIGI), Tele2