Bonnier & Proventus bid for Alma?s broadcasting business

Media company Bonnier and investment firm Proventus yesterday bid 4.2 billion crowns to buy Alma Media’s broadcast business. Alma owns MTV3, Finland’s largest commercial TV channel, a 23.4 per cent stake in Sweden’s TV 4 and a majority holding in the Finnish radio station Radio Nova.

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Alma’s shareholders will consider the bid on Monday but according to a press release from the Finnish media group 75 per cent of shareholders already recommend that the bid, which is higher than Norwegian Schibsted’s, be accepted.


NCC prepared to fight for debt

Construction giant NCC is preparing to do battle with General Electric and Morgan Stanley over an outstanding debt of 700 million crowns.

The problem began in 1997 when NCC sold 140 properties to Morgan Stanley and General Electric for just over 3 billion crowns. At that time the construction firm also lent 700 million crowns to Brännkammaren, the purchasers’ company. The last instalment of the loan should have been paid off by the end of last year but NCC has not received any repayment as yet.

"We don’t know why they are not paying. There is no dispute over the amount or the loan," says Mats Wäppling, deputy MD of NCC.


Market jitters as Ericsson fails to win contract

Despite the fact that the major listed companies are expected to announce profit gains in the coming weeks, the market has turned jittery and Ericsson was traded under 20 crowns for the first time in three months this week. This came after news that Chinese Huawei had won a contract over Ericsson and Motorola to expand the Thai CAT Telecom mobile network.

The telecoms sector has lost considerable ground since the beginning of the year with Ericsson shedding 6 per cent, Nokia 7 per cent, Telia Sonera 2 per cent and Tele2 8 per cent.

Sources: Dagens Nyheter, Svenska Dagbladet, Dagens Industri

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