The Finnish state’s investment arm, Solidium, has sold 100 million shares in TeliaSonera, equating to 2.3% of the Nordic telco, through an accelerated bookbuild.
Finland raised SKr5.04bn (US$686m) from the sell-off, managed by UBS, and now has a 7.8%…
The Finnish state’s investment arm, Solidium, has sold 100 million shares in TeliaSonera, equating to 2.3% of the Nordic telco, through an accelerated bookbuild.
Finland raised SKr5.04bn (US$686m) from the sell-off, managed by UBS, and now has a 7.8% stake in the operator, down from 10.1%.
Solidium has committed to not cut its stake any further for a period of 90 days which began on 5 November.
In a statement Solidium’s managing director, Kari Jarvinen, said: “I am very satisfied with the successful execution of this transaction.
“We will use the proceeds mainly to finance our profit distribution to the [Finnish] state.”
Finland remains TeliaSonera’s second-largest shareholder behind the Swedish state, which held 37.3% of the telco’s stock as of 30 September.
TeliaSonera was created in 2002 when Swedish operator Telia and Finnish operator Sonera merged.
