Tele2 purchases Eesti Energia’s telecoms subsidiary

Swedish telecoms group Tele2 has today revealed that its Estonian subsidiary, Tele2 Eesti, is to acquire local telecoms provider Televorgu. Tele2 will spend SEK225 million (USD32 million) on purchasing the operator from Estonian state-owned energy company Eesti Energia, with the acquisition made on a cash and debt free basis. Completion of the transaction meanwhile is expected subject to approval from the relevant competition authorities. With the Baltic Course citing Televorgu as offering a mobile internet service, ‘Kou’, which is taken by some 20,000 subscribers, Tele2 itself has claimed that the acquisition will give Tele2 Eesti ‘a stronger presence towards business customers in the Estonian market, and full control over its transmission network until 2025.’