Nordic alliance to buy 60% stake in telecom firm

Article Abstract:

Sonera Corp. of Finland and Telia AB of Sweden, two state-owned telecommunications operators, have formed a partnership to acquire a 60% interest in Lithuanian Telecom, Lithuania's state telecom firm, for $510 million. The alliance also said it will make a $221 million investment over the next three years for the enhancement of Lithuanian Telecom's phone lines and technical infrastructure. Telia, which intends to go public, and Sonera, which will go public in late 1998, hope to see a return on their investment within five to ten years.

Comment:

Forms partnership with Telia AB of Sweden to acquire 60% stake in Lithuanian Telecom, Lithuania's state telecom co, for $510 mil

Lithuania, Wired Telecommunications Carriers, Telephone Communications, Parent-to-subsidiary activities, Telephone services, Telia AB, Sonera Corp., Article, Lithuanian Telecom

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Tieto, Enator to merge, signaling IT consolidation

Article Abstract:

Sweden's Enator AB and Tieto Corp. of Finland have reached an agreement to merge. The merger will form a IT service firm with a 26 billion kronor ($3.15 billion) combined market value. The newly-merged company will be called Tietoenator. Both firms said that the deal will allow them to expand into major new markets. The deal is also expected to lead to more IT service mergers in Europe.

Comment:

Formed by merger of Enator and Tieto

Foreign operations, Wholesale Trade, Professional & Commercial Equipment, Professional and Commercial Equipment and Supplies Wholesalers, Business & Commercial Eqp Whsle, TietoEnator, Enator AB, Tieto Corp.

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Swedish Match agrees to sell cigarette unit

Article Abstract:

Swedish Match AB has reached an agreement to sell off its cigarette division to Austria Tabak. Swedish Match is selling the division for 4.8 billion kronor (535.6 million euros). The deal will enable Swedish Match to concentrate on its smokeless tobacco product and cigar core markets. Also as a result of the deal, Tabak will create a strong presence in Sweden's cigarette market.

Comment:

Swedish Match to sell cigarette division to Austria Tabak for 4.8 billion kronor (535.6 million euros)

Austria, Cigarettes, Cigarette Manufacturing, Mergers, acquisitions and divestments, Tobacco industry, Austria Tabakwerke AG, Swedish Match AB

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