UBS remains neutral on the stock with an unchanged target of SEK 84 following the announcement of a new reference shareholder.

iliad has reached an agreement with Kinnevik for the cash acquisition of around 19.8% of Tele2's share capital, for around SEK 13 billion (around €1.16 billion).

' We believe that, given Iliad's quality as an operator, Tele2 could perform better, but we do not foresee any significant changes in the Swedish market' says UBS.

This acquisition offers iliad an 'opportunity to accompany Tele2 in its growth and to work closely together on innovation, convergence and investment in next-generation networks' said Iliad.

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