Telia Overseas today completed the sale of its 29 percent holding in Si.Mobil to the Austrian company Mobilkom Austria. Telia Overseas net-profit of the sale is expected to be approximately SEK 450M.
During 1998 Telia Overseas together with local partners received a GSM-licence in Slovenia. The number of subscribers has increased rapidly during the last two years and amounted at year-end 2000 to about 130 000 subscribers.
- It is very positive that we in such a short time have managed to create such a substantial value in Si.Mobil. This deal is line with our strategy to further develop our holdings and eventually realise the values that have been created in our portfolio, says Per O. Pedersen CEO of Telia Overseas.
Telia Overseas net-profit of the sale is expected to be approximately
SEK 450M. Telia Overseas total invested capital in Si.Mobil amounted to
SEK 149M including equity and debt.
The average rate of return on invested capital for Telia Overseas holding in Si.Mobil was therefore 175%.
Ratos owns approximately 9% in Telia Overseas and has a total investment of SEK 328M in the company. Telia Overseas is an Active holding in Ratos portfolio. The objective of the company is to acquire, develop and sell communication licenses, especially mobile telephony licenses, and communication networks in developing countries. Further to Slovenia Telia Overseas has significant holdings in Sri Lanka, India, Hong Kong, Uganda and Namibia. In February 2001 an agreement in principle was signed regarding the sale of the holding in the Brazilian mobile-operator Tess S.A.
For further information:
Mats Lönnqvist, Senior Investment Manager, +46-8- 700 17 55
Clara Bolinder-Lundberg, IR, +46-8-700 17 49