Swedish telco AllTele has agreed to acquire its local counterpart Universal Telecom in a deal valued at around SEK250m (US$40m).
The move brings together two assets owned by Mark Hauschildt, who is AllTele’s largest shareholder with a 26.36% stake and,…
Swedish telco AllTele has agreed to acquire its local counterpart Universal Telecom in a deal valued at around SEK250m (US$40m).
The move brings together two assets owned by Mark Hauschildt, who is AllTele’s largest shareholder with a 26.36% stake and, through Madeira-based Timepiece Servicos De Consultoria, controls Universal Telecom.
Through issuing new AllTele shares and bond conversions, the company said Hauschildt will own roughly 52.9% of the combined company’s voting rights, and around 63.2% of its share capital.
AllTele plans to hold a shareholder meeting on or around 19 March to vote on the deal, which would require regulatory approval.
The company said a number of its major shareholders, including founders Ola Norberg, Peter Bellgran and Thomas Nygren, are already in favour of the plan.
It added that acquiring Universal Telecom would double its EBITDA and see it surpass SEK1bn (US$158m) in revenues.
