Sonera ja Telia ostivat enemmist n liettualaisesta matkapuhelinyhti st

Article Abstract:

Finland's Sonera and Sweden's Telia have acquired 55% of the shares of the largest mobile phone operator in Lithuania, UAB Omnitel. The deal still has to be approved by the Lithuanian authorities. After the deal is finalized, Sonera will have holdings in both fixed networks and mobile phone companies in all the Baltic states. According to Sonera, they do not plan any further major deals in the near future. Sonera will soon give up their holding via Lietuvos Telekom in the second largest mobile phone company in Lithuania, Bite. Omnitel is sold by a Lithuanian family Kazickas and Motorola Lithuania Telecom. The sellers do not wish the purchase price to be published. The shares will be owned by Sonera and Telia's holding company which also governs the Lietuvos Telekom shares. Omnitel has just under 150,000 customers and the number is expected to reach 200,000 in 1998. The company employs 450 people.

Comment:

Awaits Lithuanian authorities' approval to acquire 55% shares of mobile phone operator in Lithuania together w/ Sonera (Finland)

Lithuania, Cellular Mobile Radio Services, Cellular and Other Wireless Telecommunications, Cellular telephone services, Telia AB, Sonera Corp., UAB Omnitel

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Swim takes plunge in Russia

Article Abstract:

Scottish Widows Investment Management (Swim) has invested in three funds in Vimplecom, a telecoms company based in Moscow, marking its debut in the Russian market. The UK-based group believes that the GB 2mn investment will reap long-term benefits although it acknowledged that the move was a risky one given the erratic nature of the Russian market. Swim believes that Russia needs to radically change its tax laws, almost 200 of which are at present in force, before major investments can be undertaken.

Comment:

Invests in three funds in Vimplecom, a telecoms company based in Moscow, marking its debut in Russian market

Investment Companies, Open-End Investment Funds, Russia, Vimplecom, Scottish Widows Investment Management

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