Sweden's news in English

Editions:  Europe · Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

TeliaSonera's Baltic acquisitions move forward

Share this article

17:41 CEST+02:00
TeliaSonera has yet to take over full control of Lithuania's TEO LT as planned, the Nordic telecommunications operator said on Tuesday, but it has acquired nearly all of Estonia's Eesti Telekom.

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.

 
Get notified about breaking news on The Local

Share this article

The Local is not responsible for content posted by users.
Become a Member or sign-in to leave a comment.

From our sponsors

New Malmö museum will focus on ‘democracy and migration'

Change starts with one small step, whether it be a large or small scale project, it all requires movement. It's a logic that can be applied to starting a new national museum from scratch, especially one with an innovative theme that is going to take several years to come to fruition.