Versatel buy-out to strengthen Tele2

Versatel International Telecom confirmed Monday it will be sold to Swedish rival Tele2, finally putting an end to rumors the Dutch company will be sold off to a European telecom group. The Amsterdam company will be sold to Tele2 for $1.61 billion (1.34 billion euros), and the Swedish telecom group said it will pay $2.64 (2.20 euros) per share, or a 14 percent premium on Versatel's closing share price last Friday.

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<p><a href="http://www.physorg.com/news5247.html">Versatel buy-out to strengthen Tele2</a></p> <p>Versatel International Telecom confirmed Monday it will be sold to Swedish rival Tele2, finally putting an end to rumors the Dutch company will be sold off to a European telecom group. The Amsterdam company will be sold to Tele2 for $1.61 billion (1.34 billion euros), and the Swedish telecom group said it will pay $2.64 (2.20 euros) per share, or a 14 percent premium on Versatel's closing share price last Friday.</p>