• Sweden edition
 

Estonia approves TeliaSonera purchase

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

The Estonian government formally approved the sale on Thursday of the state's 27 percent stake in telecoms provider Eesti Telekom to the Nordic group TeliaSonera.

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)

Don't miss...X
Left Right

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!?!?
Today's headlines
Florida 'mystery knight' dies in Sweden
Michael Boatwright (R) and Medieval knight re-enactors.

Florida 'mystery knight' dies in Sweden

The "motel mystery" American who baffled US authorities by only speaking Swedish when he woke up from a coma last year has passed away, Swedish media reported on Wednesday. READ () »

Swedes open coffin of 850-year-old king
Photo: Bertil Ericson/TT

Swedes open coffin of 850-year-old king

UPDATED: Scientists pried open the 850-year-old casket of King Erik the Holy on Wednesday, hoping to find out more about the king, his crown, and his eating habits. READ () »

TeliaSonera announces first-quarter profit drop
TeliaSonera CEO Johan Dennelind. File photo: TT

TeliaSonera announces first-quarter profit drop

Stockholm-listed telecom operator TeliaSonera on Wednesday said profits had fallen in the first quarter, but hoped offering customers more data solutions in the future would turn things around. READ () »

'Imperfect EU better than revolting nationalism'
Fredrik Reinfeldt. File photo: TT

'Imperfect EU better than revolting nationalism'

Swedish Prime Minister Fredrik Reinfeldt on Wednesday urged young voters to head to the European parliamentary polls on May 25th "to cure the European disease of nationalism". READ () »

Ericsson quarterly profit defies sluggish sales
Ericsson CEO Hans Vestberg at the first quarter press conference. Photo: TT

Ericsson quarterly profit defies sluggish sales

Swedish telecom giant Ericsson on Wednesday announced a drop in sales but posted a sharp rise in first-quarter profit, which nonetheless fell shy of analyst predictions. READ () »

Fatal Norrköping brawl
Four brothers held as cops fear brawl reprisals
Photo: Johan Nilsson/TT

Four brothers held as cops fear brawl reprisals

Swedish police fear that several people involved in a brawl in eastern Sweden on Monday night may be seeking revenge after two brothers were shot dead. READ () »

Sponsored Article
Beautiful pearls of southeast Sweden
The town of Västervik.

Beautiful pearls of southeast Sweden

Ask a Swede, and they are likely to say that their favourite holiday spot is in the southeast of Sweden. Eastern Småland and Öland offer a smörgåsbord of all the things dearest to the Swedes - from the beloved children's book author Astrid Lindgren to deep forests, long sandy beaches, perfect spots for that all-important 'fika', and a surprising amount of space, peace and quiet. READ () »

Weekend weather to bring summer warmth
Swedes enjoy hot dogs and cherry blossoms in Stockholm's Kungsträdgården. Photo: Jessica Gow/TT

Weekend weather to bring summer warmth

The sun is set to stick around and temperatures could climb into the twenties over the weekend, Swedish meteorologists said on Wednesday READ () »

'Day-care rapist' admits molesting eight kids

'Day-care rapist' admits molesting eight kids

A 21-year-old man confessed on Wednesday to sex crimes against eight children at a day care where he was working as an intern. READ () »

Swedish cops nab man for having big muscles
An unrelated bodybuilder. File photo: Ann Törnkvist

Swedish cops nab man for having big muscles

Police in Sweden's south who hauled a muscular man in for steroid testing have had their knuckles rapped, after it was ruled that big biceps cannot be grounds for narcotics suspicions. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
TT
Gallery
Inside the 850-year-old king's coffin
Features
Sponsored: South-eastern Sweden offers Öland beaches and more
Gallery
Swedish underwear shop puts staff in front of the camera
Gallery
IN PICTURES: The Local's Property of the Week - Täby
Sponsored: India+Sweden Week - India Unlimited
Features
Sponsored: India+Sweden Week - A film, food, and finance feast
National
University applications rocket to record high
finest.se
Gallery
People-watching April 18-20
TT
Society
Kids in Victorian garb mark Swedish Easter
Shutterstock
National
Swedish MP ordered chemtrail probe
Society
Swedish supermarket Ica pulls contested Easter commercial off air
Kungahuset
Society
Swedish royals set baptism date for princess
finest.se
Gallery
People-watching April 16
Advertisement:
Politics
Who's the prime minister's heir?
Alfie Atkins
Society
Are children's books the key to families integrating in Sweden?
National
'Sweden Dem protests cater to party's martyr image'
National
'Swedish research grants were fantastic, but now it's like Australia'
Society
Only in Sweden: The ten problems you'd never encounter elsewhere
National
Swedes stopped to take my picture, but didn't look me in the eyes
Business & Money
A swipe of the hand replaced cash and cards in Lund
YouTube
Features
Video: Oliver Gee finds out how to embrace The Swedish Hug
TT
National
Abba duo hints at reunion
Private
National
Flash mobs hug it out across Sweden
Finest.se
Gallery
People-watching April 11-13
Stockholm School of Economics
Sponsored Article
Why a bachelor's degree is no longer enough
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Blog Update: The Diplomatic Dispatch

28 October 15:16

The Green Growth Group Summit »

"Today on the 28 October in Brussels, a large group of key EU Ministers and business people, including UK Secretary of State for Energy and Climate Change Edward Davey, and Swedish Environment Minister Lena Ek, will meet to discuss green growth. They all have a stake in resolving a challenge which, although it is crucial..." READ »

719
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com