Tele2 to bid for Holland’s Versatel

Swedish telecom operator Tele2 will open its public offer for Dutch Versatel Telecom International on Wednesday, Tele2 said on Tuesday in press reports in Holland.

The public offer of 2.20 euros per Versatel share will close mid-afternoon on October 7, the announcement said. In all the Tele2 bid is worth 1.34 billion euros (1.62 billion dollars).

The offer is fully supported by Versatel’s boards, while Dutch media tycoon John de Mol, who holds 42 percent in Versatel, has also agreed to sell his shares to Tele2.

The offer is conditional on at least 95 percent of Versatel’s shares and 85 percent of convertible notes being tendered.