Tele2 sells fixed-line unit to Vivendi for $450m

Sweden's Tele2 sold its French fixed-line telephone and broadband unit to Vivendi's SFR wireless division for 3.3 billion kronor ($450 million), an Associated Press report said.

 

The Associated Press report said the company will incur a one-time loss of 1 billion kronor ($136 million) from the sale, according to a Tele2 statement.

 

Stockholm-based Tele2 said it valued its remaining goodwill after the sale and will write down between 3 billion kronor ($409 million) and 3.5 billion kronor ($478 million) in the third quarter.

 

'Divesting parts of the French business has given us an indication of the market value of our other businesses in continental Europe,' Tele2 CFO Hakan Zadler, was quoted as saying.

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