By Dominic Chopping

STOCKHOLM--Tele2 AB said Friday that it expects to complete the divestment of T-Mobile Netherlands in the coming weeks.

The Sweden-based telecom company and Deutsche Telekom AG agreed last year to sell their respective 25% and 75% stakes in T-Mobile Netherlands to Apax Partners LLP and Warburg Pincus LLC in a deal valued at 5.1 billion euros ($5.6 billion).

Tele2 said it proposes that the full cash proceeds of the sale be distributed to its shareholders through an extraordinary dividend of 13 Swedish kronor ($1.38) a share in May.

All necessary regulatory approvals for the sale have been received and Tele2 said it expects the transaction to be closed in the coming weeks.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

March 25, 2022 03:49 ET (07:49 GMT)

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