Telia Company has divested its entire holding in Spotify in several steps over
some time for USD 272 million, approximately SEK 2.3 billion, to institutional
investors. The parties have concluded their successful strategic partnership.
“We wish Spotify all the best in its next phase as a truly global listed
company. Spotify has been a fantastic investment for Telia Company, both from a
direct return and a partnership perspective,” says Johan Dennelind, President
and CEO of Telia Company.
Based on the transactions, Telia Company receives approximately USD 272 million,
approximately SEK 2.3 billion, for 100 percent of its stake in Spotify, which is
equivalent to a return on investment of approximately 2.4x.
Telia Company and Spotify share a long history together. The two companies
teamed up already in October 2009 through an exclusive agreement whereby Telia
included Spotify Premium in its offerings.
The partnership was expanded in June 2015 when Telia Company invested USD 115
million in Spotify.
During the strategic partnership Telia Company has worked closely with Spotify
and gained valuable insights into several important areas including the launch
of the service Telia CoPlay, which is made available under a home broadband
concept called Telia Zone.
For more information, please contact our press office +46 771 77 58 30, visit
our Newsroom (http://www.teliacompany.com/en/news) or follow us on Twitter
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