Hutchison Whampoa rumoured to be looking to acquire Tele2 Sweden for USD 6.3bn
Hutchison Whampoa, the Hong Kong based conglomerate, could be interested in acquiring Tele2 Sweden, according to Dagens Industri. The Swedish business daily reported that Tele2 saw its share price soar on Friday based on rumours that Hutchison is interested in paying USD 6.3bn for the Swedish Kinnevik-owned telecom company. The paper wrote that it was also speculated that Goldman Sachs is advising Hutchison while Morgan Stanley is acting as the advisor for Tele2.
The paper wrote, however, that while it is possible Hutchison is interested in acquisitions, it seems unlikely that it would be willing to pay USD 6.3bn which is more than Tele2 Sweden’s market value including its SEK 8bn (USD 1.2bn) in debts.
The paper also speculated that it is also unlikely that Swedish Investor, which owns the Nordic telco 3 together with Hutchison, would be willing to participate at such a price.
Source Dagens Industri