\tTelenor has completed a \u20ac1.5 billion deal to acquire a 54 per cent stake in Finnish operator DNA, after receiving the required approvals.<\/p>\n
Telenor struck the deal to acquire the stake in the operator from two separate shareholders, Finda and PHP, in April [1], a move designed to strengthen its position in the Nordic region.<\/p>\n
Telenor indicated at the time it expected to seal the transaction in Q3 of this year.<\/p>\n
The Norwegian operator agreed a deal to pay \u20ac20.90 per share in cash for the stake, totalling \u20ac1.5 billion.<\/p>\n
As previously announced, Telenor added that the completion of the deal will trigger a mandatory public tender offer for the remaining shares in DNA by Telenor, priced the same as it paid Finda and PHP.<\/p>\n
\u201cWe believe the Mandatory offer price of \u20ac20.90 will be attractive to current investors who may consider taking the opportunity to sell and lock in a solid profit,\u201d Telenor CFO Jorgen Arentz Rostrup added.<\/p>\n
Telenor president and CEO Sigve Brekke said it was pleased to have completed the transaction and \u201cbegin our story with DNA\u201d.<\/p>\n
\u201cAs a strong challenger in Finland\u2019s mobile market, DNA complements our operations in the Nordic region,\u201d he said.<\/p>\n
DNA is Finland\u2019s third-largest mobile operator, second biggest fixed provider and the market\u2019s leading cable-TV player.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/telenor-moves-into-finland-with-e1-5b-dna-buy\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Telenor has completed a €1.5 billion deal to acquire a 54 per cent stake in …<\/p>\n
The post Telenor seals €1.5B DNA deal<\/a> appeared first on Mobile World Live<\/a>.<\/p>\n