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EQT offer values Swedish telco DGC One at 2.3 bln SEK
June 7, 2017 / 8:04 AM / 6 months ago

EQT offer values Swedish telco DGC One at 2.3 bln SEK

STOCKHOLM, June 7 (Reuters) - Swedish private equity firm EQT on Wednesday made a cash offer to shareholders of DGC One valuing the telecoms company at 2.3 billion Swedish crowns ($265 million) after announcing it had bought an 85 percent stake in the company.

EQT, which owns Swedish telecom operator IP-Only, offered 250 crowns per share, 59 percent above DGC One’s closing price on Monday.

EQT partner Johan Dettel said there were significant opportunities for cooperation between DGC One and IP-Only, which owns fibre infrastructure in Sweden.

“Along with DGC’s IT managed services we see significant opportunities for cooperation (with IP-Only),” he said in a statement.

DGC’s board recommended that shareholders accept EQT’s offer.

DGC shares on Wednesday rose to the 250 crowns offer price.

$1 = 8.6898 Swedish crowns Reporting by Olof Swahnberg; editing by Jason Neely

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