Tele2 — M&A Activity 2010

Jan 13, 2010

Press Release 2010-01-13

Tele2 to acquire minority stakes in its Russian mobile operation in Rostov

Stockholm - Tele2 AB, ("Tele2"), (Stockholm Stock Exchange: TEL2 A and TEL2 B), announced today that it has signed the contract to acquire the remaining 12.5 percent in the company "Rostov Cellular Communication", in the Russian region of Rostov. Completition is expected within a month.

After this acquisition Tele2 will own 100 percent of the company's shares. Tele2 will pay approximately SEK 350 million, a part of the amount will be paid after 36 months of the completion.

This is the last minority stake in Tele2 Russia and after this acquisition Tele2 will own 100% of its Russian operation.

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Further information can be obtained from: Lars Torstensson, Investor Inquiries, Tel: +46 702 73 48 79 Pernilla Oldmark, Press Inquiries, Tel: +46 704 26 45 45

TELE2 IS ONE OF EUROPE'S LEADING TELECOM OPERATORS, ALWAYS PROVIDING THE BEST DEAL. We have 26 million customers in 10 countries. Tele2 offers mobile services, fixed broadband and telephony, data network services, cable TV 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 2008, we had net sales of SEK 38.3 billion and reported an operating profit (EBITDA) of SEK 8.2 billion.