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Mar 31, 2005 12:00 PM CET
New York and Stockholm – Tele2 AB, (“Tele2”), (Nasdaq Stock Market: TLTOA and TLTOB and Stockholmsbörsen: TEL2A and TEL2B), the leading alternative pan-European telecommunications company, today announced that it has completed the process of integrating UTA and Tele2 in Austria, according to plan. The merger has created Austria’s leading alternative telecom operator in both the corporate and the residential markets. This new and efficient organization enables Tele2 to continue to provide the best prices in the market.
Cost synergies, from areas including rationalization of overlapping functions and cross-selling, as well as from centralized functions and centers of expertise in various areas within the Tele2 Group, such as IT and technical operations, are expected to amount to MEUR 30 on an annualized basis as of 2005. The integration process has meant that the number of personnel in Austria is reduced by some 130.
Integration costs are estimated to amount to around MEUR 30 in 2005.
Lars-Johan Jarnheimer, CEO of Tele2 said; “We are pleased that the merger has gone well. We now have the opportunity to realize the anticipated synergies, that will benefit both our existing and our new customers.”
Lars-Johan Jarnheimer, Telephone: + 46 8 562 640 00
President and CEO, Tele2 AB
Håkan Zadler, Telephone: + 46 8 562 640 00
CFO, Tele2 AB
Dwayne Taylor, Telephone: + 44 20 7321 5038
Lena Krauss, Telephone: + 46 8 562 000 45
Visit us at our homepage: http://www.Tele2.com
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