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October 7, 1999

Sweden’s Tele1 Europe Plans Flotation Next Year

By CBR Staff Writer

Swedish new carrier Tele1 Europe Holding AB plans to float in the first half of next year, said its CEO Ivar Stromberg, who declined to reveal any details as to which stock exchange it will choose, or how much of the company will be floated.

Earlier this week Tele1 made its third acquisition of an internet service provider, acquiring the Danish company Euroconnect A/S (NBD 10/07/99). Its previous acquisitions were Businessnet A/S, a small Danish ISP; and Clinet Oy, a leading Finnish provider to the enterprise market.

Stromberg said the group offers internet services in the four countries in which it has carrier licenses (Sweden, Norway, Denmark and Finland), but in Sweden and Norway it currently does so through partners.

Stockholm-based Tele1 Europe offers telecoms services to business customers and is building its own fiber optic network to replace the leased capacity it currently uses. The company had revenue of SEK76.9m ($9.45m) in the first half of this year.

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