TeliaSonera has launched its voluntary offer for the shares in TEO it does not already own.
The Swedish incumbent had upped its stake in the Lithuanian operator to above 76% back in early May. It has since increased the stake further to 84.6% via open…
TeliaSonera has launched its voluntary offer for the shares in TEO it does not already own.
The Swedish incumbent had upped its stake in the Lithuanian operator to above 76% back in early May. It has since increased the stake further to 84.6% via open market transactions.
As previously announced, TeliaSonera offers €0.637 for each outstanding TEO share in an offer worth up to €76m.
The subscription period runs until 29 June, and the settlement date is 4 July.
TeliaSonera said it would also continue to buy shares in the open market at the same price of €0.637.
“We will consider all options when the offer will be finalized, but we intend to keep TEO LT listed as long as there is a reasonable free float,” TeliaSonera CFO Per-Arne Blomquist said.
