MTG completes sale of Zitius

May 21 2014

Modern Times Group MTG AB (publ.) (‘MTG’ or ‘the Group’), the international entertainment group, today announced that it has completed the sale of its 80% stake in Swedish communications operator Zitius Service Delivery AB to TeliaSonera AB, following approval from the Swedish Competition Authority.

Zitius will be deconsolidated from MTG’s accounts from the beginning of June. The transaction is expected to generate approximately SEK 76 million of net gain. Zitius’ financial results for the period until deconsolidation, as well as the net gain, will be reported within the ‘Central Operations, eliminations & others’ line within the Viasat Broadcasting business area in the Group’s reporting matrix.

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