Tele2 receives clearance to sell its Norwegian operations to TeliaSonera

Stockholm - Tele2 AB (Tele2), (NASDAQ OMX Stockholmsbörsen: TEL2 A and TEL2 B).
The Norwegian competition authorities today announced that it has cleared
Tele2’s sale of its Norwegian operations to TeliaSonera. As a consequence of the
competition authority’s preliminary decision to prohibit the transaction on
December 1, 2014, further remedies were offered and the final purchase price has
been adjusted from SEK 5.1 billion to SEK 4.5 billion. The transaction is
expected to close in the next 2 weeks.
Mats Granryd, President and CEO of Tele2 AB comments: “It was never our
intention to divest our Norwegian operations. However following a complex
auction process at the end of 2013, the only valid alternative for us was a full
exit from the country. We are happy that the Norwegian authorities have accepted
the increased remedies, thereby allowing us to proceed to closure very quickly.
We are very proud of what we have accomplished since we entered the Norwegian
market in 1995. Our Norwegian team, under the leadership of Arild Hustad, have
created strong brand names, a successful operation and most of all 1.2 million
very satisfied customers. Whilst we have not been able to complete our
originally desired strategy, the proposed deal is good for our Norwegian
employees, customers, shareholders and for Tele2 as a whole. This is an
attractive transaction at a good valuation and after months of uncertainty
releases capacity for us to challenge and take new steps in our other markets.
We wish our team every success as they transition into the TeliaSonera
organization.”

Arild Hustad, CEO of Tele2 Norway, comments: “The transaction will bring
together two great players in the Norwegian market. The combined strength will
create a company that is better able to serve Norwegian mobile customers and
businesses. One immediate benefit of the combination is a more rapid nationwide
rollout of 4G, to improve our customer experience and stimulate further growth
in the Norwegian market.”

The expected cash proceeds of SEK 4.7 billion will deliver an attractive return
for Tele2 and will generate an expected capital gain of approximately SEK 1.8
billion upon closing. The capital gain, and the value created in this
transaction, is confirmation of Tele2´s continued focus on creating value for
its shareholders.

As a consequence of the transaction, the Board of Tele2 AB has decided to
recommend an extra ordinary dividend payment of SEK 4.5 billion to the Annual
General Meeting (AGM) in May 2015 in addition to the already announced dividend
payment of SEK 4.85 per ordinary A or B share.

For more information, please contact:
Lars Torstensson, EVP Corporate Communication and Strategy, Tele2 AB, Phone:
+46 702 73 48 79.
Viktor Wallström, Head of Public Relations, Tele2 AB, Phone: +46 703 63 53 27.

TELE2 IS ONE OF EUROPE'S FASTEST GROWING TELECOM OPERATORS, ALWAYS PROVIDING
CUSTOMERS WITH WHAT THEY NEED FOR LESS. We have 14 million customers in 9
countries. Tele2 offers mobile services, fixed broadband and telephony, data
network services and content services. Ever since Jan Stenbeck founded the
company in 1993, it has been a tough challenger to the former government
monopolies and other established providers. Tele2 has been listed on the NASDAQ
OMX Stockholm since 1996. In 2014, we had net sales of SEK 26 billion and
reported an operating profit (EBITDA) of SEK 5,9 billion