Ratos increases its investment in Telia Overseas
Ratos´ holding, Telia Overseas, has decided to effect a new share issue of approximately SEK 1,160 million. The new funds will be used to finance the continuing expansion of operations in Brazil.
Telia Overseas was started in 1996 to make global investments primarily in mobile communications companies. Today, Telia Overseas is active in seven markets around the world and has a total of 1.4 million subscribers.
Telia Overseas´ single largest investment is in TESS in Brazil, whose mobile communications business has expanded considerably during the past year. TESS currently has more than 600,000 subscribers in Brazil, an increase of 74 percent since the beginning of the year.
Through the new issue the book value of Ratos 9 per cent holding in Telia Overseas will increase with approximately SEK 100m to SEK 328m.
For further information please contact:
Anna-Karin Eliasson Celsing,
Corporate Communications, Ratos, +46 70 399 62 39