+------------------------------------------------------------------------------+
Tele2 Norway Exit Would Make Full Breakup More Probable: Nordea 2014-02-10 08:04:55.453 GMT
By Sam Chambers Feb. 10 (Bloomberg) -- Tele2 may seek to acquire Norwegian spectrum, enter into a network JV or sell its Norwegian unit, Nordea says. * Says all options would create upside to co’s fair value and in the event of a full breakup, Tele2 may fetch SEK95 - SEK100/shr (~31% upside to Friday’s close) * Upgrades stock to buy; increases its PT by 9% after adding 33% of its breakup premium * Berenberg (buy) says with its poorly positioned Norwegian business and rising competitive threats in Dutch mobile, the time for a full breakup is now * Sees SEK12/shr upside should co. be broken up * NOTE: Tele2 erased losses to close 3.9% higher after FY results on Feb 7; TMT Finance reported Hutchison is advancing talks with Tele2 over purchase of its Swedish unit * NOTE: Tele2 said it’s a buyer in any Swedish M&A deal
For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>
To contact the reporter on this story: Sam Chambers in London at +44-20-7673-2021 or schambers7@bloomberg.net
To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net