Abstracts » Business, international

Sonera lis si osuuttaan Latvian puhelinyhti st

Article Abstract:

Finnish Sonera will buy an additional share of 31% of the national telecom company of Latvia, Lattelekom, from the British Cable and Wireless. The purchase price is Fmk 1.3bn (US$ 0.2bn). Sonera already holds a 13% share of Lattelekom, thus it will own 44% of the company. The state of Latvia owns 51% of Lattelekom. According to the agreement between Sonera and Cable and Wireless, Sonera will buy Cable and Wireless out of the Tilts Communications, jointly owned by the companies. The joint venture owns 49% of Lattelekom. Sonera's share of Tilts communications will increase to 90%. The International Finance Corporation of the World Bank owns the remaining 10% of the company. According to Sonera, they will not look for new companies to be acquired but concentrate on contemplating the deals made in the Baltic.

Comment:

Will sell 31% stake in Lattelekom, the national telecom company of Latvia, to Sonera, of Finland

Asset sales & divestitures, Wired Telecommunications Carriers, Telephone Communications, Latvia, Telephone services, Cable & Wireless PLC, Lattelekom

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Sonera Yhdysvaltain matkapuhelumarkkinoille

Article Abstract:

Finland's Sonera will buy a Fmk 1.1bn (US$ 0.2bn) share of American mobile phone company Aerial Communications. The companies will cooperate in developing new products and services. Sonera chose Aerial for cooperation since it has shown to be capable of fast growth and it is willing to develop new telecommunication services in the challenging US markets. After the deal Sonera owns 15-19.4% of Aerial. The final share will be determined within the next three years on the basis of Aerial share price. Sonera will become the second largest independent shareholder of Aerial and it will have two members in its Board. The Aerial head office is situated in Chicago. Aerial has over 200,000 mobile phone clients.

Comment:

Will buy $0.2 bil share of American mobile phone company Aerial Communications, US

United States, Foreign operations

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Sonera myy vain vanhaa

Article Abstract:

According to the MD Pekka Vennamo of Finnish Sonera , Sonera will not arrange a share issue in October 1998 in connection with the Finnish state selling the shares and the company being listed in the stock exchange. The shares are sold as tender offer to Finnish and foreign international institutional investors and as public offer to minor investors and the personnel. The selling will be arranged by MeritaNordbanken.

Comment:

Will not arrange share issue in 10/98 in connection with the Finnish state selling shares and its being listed in stock exchange

Securities issued, listed

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