Petteri Pyyny
30 Mar 2018 3:15
Swedish telecom giant Telia has sold its share of Spotify for appx. $272 million (SEK2.3 billion) to institutional investors.
Both companies originate from Sweden and Telia was one of the oldest partners of Spotify, signing up to an exclusive deal back in 2009 to offer Spotify Premium to its customers across the globe. Telia invested $115 million in Spotify in June 2015.
As Spotify has filed for an IPO, Telia decided to sell its shares.
Source: Telia press release