Tele2 sells French fixed-line business to Vivendi for $450m

04 Oct 2006
00:00

(Associated Press via NewsEdge) Swedish telecoms company Tele2 sold its French fixed-line telephone and broadband unit to Vivendis SFR wireless division for 3.3 billion kronor ($450 million).

The company will incur a one-time loss of 1 billion kronor ($136 million) from the sale, Tele2 said in a 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 said.

© 2006 The Associated Press

© 2006 Dialog, a Thomson business. All rights reserved

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