Kinnevik : Kinnevik to receive approximately SEK 3.8 bln from Tele2 following the divestment of Tele2 Russia

Kinnevik : Kinnevik to receive approximately SEK 3.8 bln from Tele2 following
                        the divestment of Tele2 Russia

Investment AB Kinnevik ("Kinnevik") today announced that it expects to receive
approximately SEK 3.8bln in cash following the proposed redemption of shares
in Tele2.

Kinnevik is Tele2's largest owner with 30.5% of the capital and 47.7% of the
votes. As a result of the share redemption program announced today in Tele2,
Kinnevik will receive approximately SEK 3.8 bln. The share redemption has no
tax impact for Kinnevik.

Kinnevik's net debt at the end of 2012 was approximately SEK 3bln. Kinnevik's
financial target with regards to leverage is to have no or a low leverage in
the parent company to have financial flexibility.

The proceeds from Tele2 will be used to reduce the debt in the parent company
and to finance investments in 2013. The guidance for investments of SEK 2-3bln
in 2013 remains unchanged. With focus on Kinnevik's core growth sectors
mainly in telecom, online and media, as well as growth markets, Kinnevik has a
strong track record of value creation for its shareholders. The Kinnevik Board
of Directors constantly evaluates the capital structure against investment
opportunities in our focus areas as well as the return of cash to shareholders
through dividends or buy-backs.



For further information, visit www.kinnevik.se or contact:

Torun Litzén, Director, Investor Relations Phone +46 (0)8 562 000 83
                                           Mobile +46 (0)70 762 00 83

Investment AB Kinnevik

Press release

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Source: Kinnevik via Thomson Reuters ONE
HUG#1688751
 
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