Mergers and Acquistions News
Categories: Media & Information Services
November 20th 2008, 15:46PM
Private equity firm 3i has divested its 30 per cent stake in Nordic digital pay TV firm Boxer, it has been revealed.
The investment company has agreed to sell its shares to majority shareholder Teracom, the Swedish government-owned media company.
3i partner Klas Hillstrom explained that the two firms had worked closely together and have managed to achieve their agreed milestones.
"Boxer took important steps forward with its entry into the Danish and Irish markets earlier this year and remains excellently positioned to continue to grow internationally," he said.
The amount paid by Teracom to obtain the stake has not been disclosed.
3i describes itself as a successful private equity investor in the telecoms, media and technology sector.
Earlier this week, it was revealed that Nexit Ventures has secured €75 million (£63 million) to invest in telecoms firms.
However, the company is still looking for further contributors to its Nexit Infcom II fund.
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