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Estonia approves TeliaSonera purchase

Published: 25 Sep 2009 08:09 GMT+02:00
Updated: 25 Sep 2009 08:09 GMT+02:00

TeliaSonera already which already owns 61 percent of the company.

"The Estonian government decided at its Thursday session to sell all the shares the state has in Eesti Telekom" for some four billion kroons ($378 million), cabinet spokesperson Liina Lepik told AFP.

At the end of August, Swedish-Finnish telecoms group TeliaSonera made a 5.1 billion kroon bid for the remainder of Eesti Telekom.

The remaining 12 percent of the company is held by private shareholders.

TeliaSonera - which holds assets across eastern Europe and Central Asia - first acquired a minority interest in Eesti Telekom in the early 1990s.

Lepik said the deal would boost Estonia's budget balance starting this year.

Estonia's centre-right minority government has said the sale is crucial amid a deep economic crisis, but the opposition has blasted it, saying Eesti Telekom provided the state with a stable source of income.

Estonia, which shifted rapidly from a communist command economy to the free market after independence from the Soviet bloc in 1991, had enjoyed a reputation as a "tiger" in the European Union, which it joined in 2004.

But the country of 1.3 million people swung into a sharp recession in 2008 and its economy is forecast to shrink by 15.3 percent this year.

AFP/The Local (news@thelocal.se)

Your comments about this article

00:04 September 27, 2009 by Leprehcaun
Yeah yeah, let's just buy that country sooner instead of later; we all know it's gonna happen anyway (sort of a joke).

@ TT

That's so typi.. Did an American write this article?

The Soviet Union wasn't communist, there has never been a communist economcy or country. In a communistic country there is no currency, no "economic" disparity, no government and so on..
13:34 October 6, 2009 by DamnImmigrant
@Leprehcaun - Did an American write this article? The Soviet Union wasn't communist, there has never been a communist economcy or country.

Your attempt at politics is not really very good. First to claim an American wrote this because Communism does not and has never existed, shows a subtle lack of reasoning on your part. Yes, we call the form of government that the Soviet Union had a Communist government! The Chinese government calls itself Communist. And yes THIS NEWS ARTICLE was correct in that the Estonian economy was a "communist command economy".

The reality with the world is that we use words to categorize what we are. The definitions of those words DESCRIBE a pure ideal.

By your reasoning, NOTHING exists in this world because there is NOTHING PURE in the world! By your reasoning there is no Capitalism, Socialism, Democracy, Communism, Totalitarianism, Fascism ...

It is true that we do NOT live in a Democracy, but we call it a Democracy because we use a democratic process. I really like Sweden because of its perceived political schizophrenic nature. When the Americans, and some others, talk about Sweden, they call us a "SOCIALIST" country (while running to the bathroom to wash their mouths out for saying such a dirty word!) but the REALITY is that Sweden is a "CAPITALIST" country (ranked in the top 6 most capitalist countries in the world). Which begs the question, what IS a Socialist country?

Leprehcaun, you are also wrong because THERE ARE and HAVE BEEN communist societies. Tribes that are so primitive that we do not even consider them to have any politics.

The American Indians B4 the "White Man" had a very communistic political system! But then again as someone pointed out to me that they could NOT have been communist because communism had not been invented yet!?!?
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