Following an earlier decision to reduce the share capital in Telia Overseas, shareholders were today paid a total amount of SEK 3,105m. Ratos, with its approximately 9% holding, received a payment of SEK 272m.
Ratos has invested SEK 328m in Telia Overseas since its formation in 1996. The company's business concept is to acquire, develop and sell telecom licences, mainly relating to mobile telephony and communication networks in developing countries. The participations in Si. Mobil in Slovenia and Tess in Brazil were sold in 2001. These sales provided a combined capital gain of SEK 314m. Today, Telia Overseas' remaining commitments are in Hong Kong, Namibia, Sri Lanka and Uganda as well as its holding in the Indian company Bharti Mobile which is in the process of being sold.
For further information, please contact:
Arne Karlsson, CEO Ratos, +46 8 700 17 00