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Share 2016-09-30 17:29 RATOS B 40.74 SEK

Overseas Telecom sells holding in MTN Uganda

2006-07-06

Overseas Telecom AB, in which Ratos owns approximately 9%, has sold its 32% holding in telecom operator MTN Uganda to MTN International (Mauritius) Ltd, a wholly owned subsidiary of MTN Group Ltd South Africa. The purchase price is approximately SEK 1,200m.
 
The sale, which is in line with the company's strategy to gradually sell off earlier investments, is expected to provide a capital gain of more than SEK 900m.
 
Ratos owns just under 9% (just over 19% of the voting rights) of Overseas Telecom and the book value for this holding amounted to SEK 27m at 31 March. Following the sale of MTN Uganda, Overseas Telecom owns 55% of the telecom operator Suntel in Sri Lanka.

For further information, please contact:
Thomas Mossberg, Executive Vice President, Ratos, +46 707 28 33 88
Anders Ekman, CEO of Overseas Telecom, +46 8 456 16 00
Anna-Karin Celsing, Head of Corporate Communications, Ratos, +46 703 99 62 39