Business Services Industry
Tele2 to acquire Versatel Telecom International N.V
Nordic Business Report, July 18, 2005
NORDIC BUSINESS REPORT-18 July 2005-Tele2 to acquire Versatel Telecom International N.V.(C)1994-2005 M2 COMMUNICATIONS LTD http://www.m2.com
Sweden-based pan-European telecomms company Tele2 AB said on Monday (18 July) that its wholly-owned subsidiary Tele2 Netherlands B.V. intends to make a cash offer for the Netherlands operator Versatel Telecom International N.V.
Based on the offer share price, Versatel is valued at some EUR1,130m on an enterprise value basis.
Tele2, Versatel and the investment group Apax have also reached an understanding that, upon completion of the offer, Apax would acquire Versatel's German operations for an anticipated consideration of EUR565m on an enterprise value basis.
One euro (EUR) is worth approximately 0.67 British pounds (GBP).
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