Overseas Telecom - which is 9% owned by Ratos - has completed the sale of and received payment for its 26% holding in Bharti Mobile Ltd in India. The purchaser is the Indian mobile operator Bharti Televentures.
This deal provides a capital gain of approximately SEK 90m for Overseas Telecom. As a result of the sale, Ratos will receive a total of SEK 56m of the sales proceeds, of which SEK 19m will be paid today in the form of a dividend. The remaining SEK 37m is expected to be received at the end of the year.
Ratos has invested SEK 328m since 1996. In 2002 Ratos received a payment of SEK 272m. The consolidated book value in Ratos amounted to SEK 64m at 30 March 2003. Overseas Telecom's mission is to acquire, develop and sell telecom licences, primarily for mobile telephony and communications networks in developing countries. Portfolio companies are located in Sri Lanka, Hong Kong, Uganda and Namibia.
For additional information, please contact:
Thomas Mossberg, Deputy CEO Ratos, +46 8 700 17 00, +46 70 728 33 88