Kinnevik Names Former Finance Minister Borg to Board

Investment AB Kinnevik, owner of stakes in online retailer Zalando SE and phone carrier Tele2 AB, proposed Sweden’s former Finance Minister Anders Borg as a new member of its board of directors.

Borg, who served as finance minister from 2006 to 2014, steered Sweden through the global financial crisis without breaching the European Union’s budget or debt rules. He’s nominated to become deputy chairman of Kinnevik and non-executive director of emerging-markets carrier Millicom International Cellular SA, also controlled by the Swedish investment company, according to a statement today.

The 46-year-old former minister studied philosophy, economic history and political science at Sweden’s Uppsala University and did postgraduate studies in economics at Stockholm University. Kinnevik and Millicom will hold their annual shareholders meetings in May and vote on Borg’s nominations.

“He will bring a unique competence to the board,” Cristina Stenbeck, Kinnevik’s chairman, said in the statement. “As we expand our existing emerging-market footprint, I look forward to working with Anders Borg to build an even stronger Kinnevik.”

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