Telephone companies purchase 10 percent of the Rocket – Swedish Dagbladet

Telephone companies purchase 10 percent of the Rocket – Swedish Dagbladet

According to a press release from Kinnevik.

The purchase is made through a directed share issue of EUR 333 million. Thus valued Rocket Internet to EUR 3.3 billion in the transaction, representing nearly 31 billion Swedish kronor.

Kinnevik’s share of the Rocket Internet will after the transaction amount to 21.5 percent. Previously it stood at almost 24 percent.

“We are very pleased to welcome the leading Philippine telecom operator PLDT as a new strategic partner and shareholder of Rocket Internet., This new partnership, focusing on payment services, online and over the phone in developing markets, underscores the strength of the Rocket Internet platform and its global reach, “said Lorenzo Grabau, Kinne’s president, according to the press release.

(Adding: last paragraph)