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26 Feb 2024, 7:45 am Regulatory information

Kinnevik agrees to sell its entire shareholding in Tele2 to an investment vehicle jointly controlled by iliad and NJJ

Kinnevik AB (publ) ("Kinnevik") today announced that it has agreed to sell its entire shareholding in Tele2 AB (publ) ("Tele2") to Freya Investissement, an investment vehicle jointly controlled by the European telecommunications group iliad and its Chairman and founder Xavier Niel through NJJ Holding ("iliad/NJJ") for a total consideration of SEK 13bn. The shareholding in Tele2 will complement iliad/NJJ's existing European telecommunications operations across France, Italy, Poland, Switzerland, Monaco, Ireland, Cyprus and Malta. The transaction will be completed in three steps with a first close of SEK 2.9bn. The two remaining steps are subject to iliad/NJJ receiving necessary regulatory clearances and in relation to the third step also to iliad/NJJ reclassifying Tele2 Class A shares to Class B shares to the effect that iliad/NJJ following completion of the transaction will hold less than 30 percent of the voting interest in Tele2.

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01 Feb 2024, 8:00 am Regulatory information

Kinnevik’s Year-End Release 2023

”2023 was a challenging year. Several of our companies did not meet our performance expectations, which is reflected in the weak development of our Net Asset Value during the year. On the other hand, we doubled down in our highest-conviction companies, taking advantage of our strong financial position and permanent capital allowing us to invest when many need to exit. We made selected new investments in our focus sectors, and we limited deployment into companies lacking traction. As a result, we headed into 2024 with a stronger and more concentrated portfolio, and with a SEK 7.9bn net cash position.”

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Media contact

Torun Litzén

Torun Litzén

Director of Corporate Communication

Phone: +46 (0)70 762 00 50

Switchboard: +46 (0)8 562 000 00

Email: torun.Litzen(at)kinnevik.com

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