Davis Polk is advising Tele2 AB on the sale of its Russian operations to VTB Group in a cash transaction comprising $2.4 billion in equity value and $1.15 billion in net debt.
Tele2 AB is one of Europe’s leading telecom operators, offering mobile services, fixed broadband and telephony, data network services, cable TV and content services to around 34 million customers in 11 countries. VTB Group includes VTB Bank, which is one of the leading universal banks of Russia, and offers a wide range of banking services and products in Russia, CIS, Europe, Asia, Africa and the U.S.
The Davis Polk team is led by Managing Partner, Thomas J. Reid, together with partners Jeffrey R. O’Brien and Simon Witty and associates Joanna A. Valentine, Simon Evers and Alexander Mehra. Partner Jonathan Cooklin and associate David Wilson are providing tax advice. Associate Matthew J. Bacal is providing intellectual property advice. The members of the Davis Polk team are based in the London and New York offices. The transaction documents are governed by English law.
Mannheimer Swartling Advokatbyrå AB is advising Tele2 AB as to Swedish and Russian law matters. Morgan Stanley is financial adviser to Tele2 AB.
