Telia Company AB Completes $272 Million Sale of Common Shares in Spotify Technology S.A.

March 29, 2018

S&C client Telia Company AB, the principal telephone company and mobile network operator in Sweden, Finland and the Baltic States, completed the sale of all its common shares in Spotify Technology S.A., a Luxembourg societe anonyme and holding company for Spotify, for aggregate cash consideration of approximately $272 million.

Spotify is the largest global music streaming service with approximately 42 percent global market share based on revenue. On April 3, Spotify listed its shares on the New York Stock Exchange without a conventional underwritten initial public offering, in the largest “direct listing” to date, and the first on the New York Stock Exchange.

The London-based S&C team representing Telia Company was led by John Horsfield-Bradbury, Evan Simpson and Alan Fishman.