Estonian telecoms incumbent Eesti Telekom announced it submitted an application to the Tallinn stock exchange to stop trading shares from January 7 until delisting from the exchange.
Last November, TeliaSonera announced the launch of a squeeze-out…
Estonian telecoms incumbent Eesti Telekom announced it submitted an application to the Tallinn stock exchange to stop trading shares from January 7 until delisting from the exchange.
Last November, TeliaSonera announced the launch of a squeeze-out process after it increased its stake in Eesti Telekom to 97.58%.
The Nordic operator, which previously held 60.12% of Eesti Telekom, offered to buy each ordinary Eesti Telekom share it did not own for Krs93 (E5.9) in cash. In October, the Estonian government agreed to sell its 24.17%.
SEB Enskilda is acting as TeliaSonera’s sole financial adviser in the transaction. Raidla Lejins & Norcous is acting as TeliaSonera’s Estonian legal adviser and Sullivan & Cromwell is acting as international legal adviser.