Events after the end of the financial year
On January 21, 2011 the Administrative Court of Appeal has approved Tele2’s claim for a deduction of a capital loss of SEK 13.3 billion (tax effect of SEK 4,354 million including interest), which was associated with the liquidation of S.E.C. SA in 2001. The decision by the Administrative Court of Appeal will not lead to reduced tax payments since the capital loss has been deducted against earlier years’ profits.
Tele2 Sweden announced on March 4, 2011 that Tele2 Sweden has been awarded a mobile license of 2x 10 MHz in the 800 MHz frequency band through the network company Net4Mobility for SEK 769 million. The frequencies will be used in the roll out of Sweden’s most comprehensive 4G network. The ambition is to cover 99 percent of the Swedish households by the end of 2012.
On December 15, 2010 Tele2 sold its cable TV operation in Lithuania for SEK 42 million. The sale was approved by the regulatory authorities on February 3, 2011 and generates a capital gain of SEK 4 million.
On February 7, 2011, Tele2 entered into a 2-year revolving credit facility agreement of SEK 2.5 billion with a syndicate of five banks and with the same performance conditions as the larger credit facility.