Sale of Televõrgu approved by Competition Authority

On January 16 Eesti Energia signed an agreement with Tele 2 Eesti for the sale of its 100% subsidiary Televõrgu AS. The transaction has been approved by the Estonian Competition Authority on 14 February and the closing took place today, on 17 February 2012. Proceeds of the disposal to Eesti Energia amounted to 25 million euros on debt and cash free basis.

Prior to establishment of Televõrgu AS as a separate legal entity in 2001, the company mainly rendered communication services to Eesti Energia. Today, Televõrgu AS is providing data transmission services to local and international carriers and wireless internet access service Kõu to approximately 20,000 retail customers.

In 2010, the revenue and net profit of Televõrgu AS totaled approximately EUR 14.2 million and EUR 3.1 million, respectively17 February 2012

Veiko Räim
Head of Investor Relations and Treasury
Eesti Energia AS
Mobile +372 5668 1568
[email protected]