TeliaSonera shares rise sharply on takeover rumours

Shares in TeliaSonera shot up 9.2 percent by early Wednesday afternoon following speculation in French newspaper Le Figaro of a potential takeover bid France Telecom.

CEO Didier Lomabard has been open about his ambition to acquire other companies.

“According to the article, the company has received approval from the French state for the deal, which would indicate that there is more to it than just speculation,” said Louis Landeman, a credit analyst with SEB bank.

TeliaSonera is on the Swedish government’s list of companies that are slated for privatization. The Swedish state currently owns 37 percent of shares in the company.

TeliaSonera said it did not want to comment on the rumours.

Swedish operator Telia merged with its Finnish equivalent Sonera in 2002.