New stock to be issued in Telia Overseas

Telia, Ratos, Skandia and Orkla have decided to effect a new issue of shares in the jointly owned company Telia Overseas. Stock valued at approximately SEK 1,160 million will be issued. The increased funds capital will be used to finance the continuing expansion of operations in Brazil.
Telia Overseas was started in 1996 to make global investments primarily in mobile communications companies. Today, Telia Overseas is active in seven markets around the world and has a total of 1.4 million customers. Telia Oversea's single largest investment is Tess in Brazil, whose mobile communications business has expanded considerably during the past year. Tess currently has more than 600,000 customers in Brazil, an increase of 74 percent since the beginning of the year. Telia has a 65-percent stake in Telia Overseas and the new share issue will represent an investment of SEK 750 million.

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