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2016-11-21

Tele2 AB: Tele2's rights issue oversubscribed

Stockholm - Tele2 AB (publ), ("Tele2" or the "Company"), (NASDAQ OMX
Stockholm: TEL2 A and TEL2 B), announces that the preliminary result
of Tele2's rights issue (the "Rights Issue"), for which the
subscription period ended on November 16, 2016, indicates that
approximately 2,522,083 A shares and approximately 52,659,138 B
shares, corresponding to approximately 99.58 percent of the A shares
and approximately 98.83 percent of the B shares offered, were
subscribed for by the exercise of subscription rights. Additionally,
applications for subscription without subscription rights of
approximately 831,391 A shares and approximately 51,492,394 B shares,
corresponding to approximately 32.83 percent of the A shares and
approximately 96.64 percent of the B shares offered, have been
received. Thus, the Rights Issue is oversubscribed. Tele2 will
receive approximately SEK 2,958 million through the Rights Issue
before transaction costs.

NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO
THE UNITED STATES, AUSTRALIA, HONG KONG, JAPAN, CANADA OR SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE
WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE
IMPORTANT NOTICE AT THE END OF THE PRESS RELEASE.

The final results of the Rights Issue will be published on or around
November 23, 2016. Allotment of shares that were subscribed for
without subscription rights will be made in accordance with the
principles outlined in the prospectus. Notification regarding the
allotment of shares to be registered at Euroclear Sweden and traded
on Nasdaq Stockholm will be sent only to those who have been allotted
shares.

As a result of the Rights Issue, Tele2's share capital will increase
by SEK 69,770,841.25 from SEK 563,854,173.75 to SEK 633,625,015 in
total, and the total number of shares will increase by 55,816,673
from 451,083,339 to 506,900,012.

The new A shares and B shares subscribed for with subscription rights
are expected to be registered by the Swedish Companies Registration
Office ("SCRO", Sw. Bolagsverket) on or about November 22, 2016. The
last day of trading in the interim shares ("BTA") is expected to be
on November 28, 2016. Trading of the new A shares and B shares is
expected to begin on Nasdaq Stockholm on December 2, 2016.

The new A shares and B shares subscribed for without subscription
rights are expected to be registered by the SCRO on or about December
1, 2016 and are expected to start trading on Nasdaq Stockholm on
December 5, 2016.

Financial and legal advisors
Nordea Bank AB (publ) is acting as financial advisor and Advokatfirman
Vinge KB is acting as legal advisor in connection with the Rights
Issue.

The information was distributed for disclosure at 08.00 CET on
November 21, 2016.

For more information, please contact:
Angelica Gustafsson, Press Inquiries, Tele2 AB, Phone: +46 704 26 41
42

Mattias Schriwer, Head of Group Treasury, Tele2 AB, Phone: +46 73 707
5809

Important information
This announcement does not constitute or form part of an offer for
sale or solicitation of an offer to purchase or subscribe for
securities in the United States, any Member State of the European
Economic Area ("EEA") or any other jurisdiction.

The securities referred to herein have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the
"Securities Act"), and may not be offered or sold, directly or
indirectly, in the United States absent registration under or an
exemption from, or in a transaction not subject to, the registration
requirements of the Securities Act. The Company does not intend to
register any portion of this offering in the United States or to
conduct a public offering in the United States. Any public offering
of securities to be made in the United States will be made by means
of a prospectus that will contain detailed information about the
Company and its management, as well as financial statements. Copies
of this announcement are not being, and should not be, distributed in
or sent into the United States.

This announcement is an advertisement and not a prospectus for the
purposes of the Prospectus Directive. Any purchase of securities of
Tele2 pursuant to the Rights Issue should only be made on the basis
of the information contained in the formal prospectus issued in
connection with the Rights Issue and approved by the Swedish
Financial Supervisory Authority on 28 October 2016 (the "Prospectus")
and any supplement or amendment thereto. The Prospectus relating to
the Rights Issue contains detailed information about Tele2 and its
management, as well as financial statements and other financial data.
The Prospectus is available at the offices of Tele2 at the address
given above.

Offers to the public are permitted in Sweden, the United Kingdom,
Ireland, Denmark, Norway and Finland from and including the date of
approval of the prospectus by the competent authority in Sweden and
notified to the relevant competent authorities in other Member States
of the EEA in accordance with the Prospectus Directive ("Prospectus
Publication"), through to and including the settlement date.

Elsewhere in the EEA, this announcement and this offering are only
addressed to and directed at persons in Member States of the EEA, who
are "Qualified Investors" within the meaning of Article 2(1)(e) of
the Prospectus Directive. The securities are only available to, and
any invitation, offer or agreement to subscribe, purchase or
otherwise acquire such securities will be engaged in only with
Qualified Investors. This announcement should not be acted upon or
relied upon in any member state of the EEA by persons who are not
Qualified Investors.

"Prospectus Directive" means Directive 2003/71/EC (as amended), and
includes any relevant implementing measure in any Member State
concerned.

In advance of Prospectus Publication, this announcement is for
distribution only to and is directed only at persons who (i) have
professional experience in matters relating to investments which fall
within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended, the "Financial
Promotion Order"), (ii) are persons falling within Article 49(2)(a)
to (d) ("high net worth companies, unincorporated associations etc")
of the Financial Promotion Order, (iii) are outside the United
Kingdom, or (iv) are persons to whom this announcement, to the extent
that it constitutes an invitation or inducement to engage in
investment activity (within the meaning of section 21 of the
Financial Services and Markets Act 2000) in connection with the issue
or sale of any securities may lawfully be communicated or caused or
be communicated, or who otherwise may receive this announcement on
the basis that section 21 of the Financial Services and Markets Act
2000 does not apply (all such persons together being referred to as
"relevant persons"). This announcement is directed only at relevant
persons and must not be acted on or relied on by persons who are not
relevant persons. Any investment or investment activity to which this
announcement relates is available only to relevant persons and will
be engaged in only relevant persons.

TELE2 IS ONE OF EUROPE'S FASTEST GROWING TELECOM OPERATORS, ALWAYS
PROVIDING CUSTOMERS WITH WHAT THEY NEED FOR LESS. We have 17 million
customers in 9 countries. Tele2 offers mobile services, fixed
broadband and telephony, data network services, content services and
global IoT solutions. 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 2015, we had net sales of SEK
27 billion and reported an operating profit (EBITDA) of SEK 5.8
billion. For definitions of measures, please see the last page of the
Annual report 2015.

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http://feed.ne.cision.com/client/waymaker1/WOLReleaseFile.aspx?id=377755...
http://mb.cision.com/Main/3372/2126970/592765.pdf

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