Divestment of Bredbandsbolaget (SE) by Access Industries (US), The Carlyle Group (UK) and Investor (SE) to Telenor (NO) — SEK 6 billion

Carnegie acted as joint financial adviser to Access Industries, The Carlyle Group and Investor in the divestment of Bredbandsbolaget to Telenor. Bredbandsbolaget is the second largest provider of broadband services in Sweden with 335,000 customers representing a 24 per cent market share.July, 2005.