TeliaSonera's Baltic acquisitions move forward
AFP/The Local · 13 Oct 2009, 17:41
Published: 13 Oct 2009 17:41 GMT+02:00
- Spotify and Telia sign two-year deal (08 Oct 09)
- Estonia approves TeliaSonera purchase (25 Sep 09)
- TeliaSonera to increase stake in Estonian telecoms firm (23 Sep 09)
TeliaSonera in late August offered almost €480 million ($712 million) to buy out minority shareholders in Eesti and TEO LT.
The company already had a stake of nearly 60 percent in each Baltic operator.
The Estonian government in September approved the sale of its 27 percent interest in Eesti to TeliaSonera, which now controls 97.58 percent of the shares and plans to acquire the remainder as well.
But TeliaSonera was only able to gain control of around 68 percent of TEO LT.
TeliaSonera, formed by the merger of Telia of Sweden and Sonera of Finland, in 2008, had more than 2.0 million clients in Lithuania and 778,000 in Estonia at the end of that year.