Telia sells Spotify stake with 2.4x return on purchase price

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(Telecompaper) Telia Company said that it has gradually divested its entire holding in Spotify to institutional investors for USD 272 million or approximately SEK 2.3 billion, ahead of the streaming music company’s listing on the stock market. This is equivalent to a return on investment of approximately 2.4 times. Telia invested USD 115 million in Spotify¬†for a 1.4 percent stake in June 2015, after having begun to include Spotify Premium in its services in October 2009.
Source: Industry News (syndicated from Telecompaper.com)

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