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Tele2 to get SEK40m from sale of Lithuanian cable TV unit(Nordic Business Report Via Acquire Media NewsEdge) 15 December 2010 - Swedish telecoms group Tele2 AB (STO: TEL2 B) said today it has agreed to divest of its Lithuanian cable TV and broadband business to local operator Vdnet for SEK40m on a debt- and cash-free basis. Tele2 will book a negative one-off item of SEK200,000 as a result of the transaction. Completion of the deal is pending approval by the competition authorities. Following the sale, Tele2 can focus even more on its mobile operations with expectations of higher returns, the group said. "Our Lithuanian cable operation has made good progression over the years. However, as competition increases and as there is a need for market consolidation, we have decided to sell to Vdnet," Niklas Sonkin, market area director for central Europe and Eurasia at Tele2, said. At the end of September 2010, Tele2 Lithuania's cable business had 10,700 fixed broadband customers and 33,000 TV customers. (EUR1 = SEK9.1) ((Comments on this story may be sent to [email protected])) (c) 2010 M2 COMMUNICATIONS |