Shearman & Sterling advised Tele2 in connection with its approximately SEK 3 billion (approx. €300 million) rights issue. The shares were offered to the public in Sweden, the UK, Ireland, Denmark, Norway and Finland.

Tele2 is a European telecom operator and the second-largest operator in Sweden in terms of mobile service revenue. Tele2 offers mobile services, fixed broadband and telephony, data network services, content services and global Internet of Things solutions to more than 16 million customers in eight European countries and Kazakhstan.

The Shearman & Sterling team included partners David Dixter (London-Capital Markets), Thomas Donegan (London-Financial Institutions Advisory & Financial Regulatory) and Simon Letherman (London-Tax); and associates Ana Grbec (London-Capital Markets), Oliver Linch (London-Financial Institutions Advisory & Financial Regulatory) and Sarah Moir-Porteous (London-Tax). Additional advice was provided by partner Nathan Greene and associate Catherine Sum (both New York-Asset Management).