Unibet, Ladbrokes, Expect and Betson are all registered overseas in order to circumvent Swedish legislation but the companies have offices in Sweden.
Venture capitalists acquire Kapp-Ahl
Venture capitalists’ Nordic Capital and Accent Equity Partners are to acquire the Kapp-Ahl fashion chain from Kooperativeförbundet (KF) for 1.95 billion crowns.
Song board accepts bid
The Song Network board has recommended its shareholders to accept TDC’s bid. Shareholders are now calling on TDC to extend the time limit so that the majority of shareholders have a chance to accept the bid.
Meanwhile Tele2 is still calculating the cost of bidding over TDC.
Forest group Holmen posted a pre-tax profit of 478 million crowns for Q3, compared with 532 million crowns in the corresponding period in 2003. Sales dipped marginally from 5.8 to 5.7 billion crowns. The newsprint division has been affected by price cuts but CEO Magnus Hall believes that prices can be raised by at least 10 per cent next year. The Iggesund Paperboard division, considered to be one of the foremost global producers of luxury paperboard, posted net operating income of 249 million crowns for the period with an operating margin of 20 per cent.
Security group Gunnebo reported a profit of 84 million crowns after financial items, which was considerably less than the market had expected. Steel prices have impacted on earnings as has the cost of acquisitions in Switzerland and Belgium during the year.
CEO Bjarne Holmqvist also warned that the group would be cutting some 200 jobs within the safe manufacturing division. This is expected to have a positive impact on the result in 2005.
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