DNA shareholder Oulu ICT has joined a deal with the Finnish mobile operator’s other leading holding companies to buy out KPY Sijoitus’ 12.97% stake.
Oulu ICT bought 327,278 of the shares for €93.7 each to remain the second-largest shareholder of…
DNA shareholder Oulu ICT has joined a deal with the Finnish mobile operator’s other leading holding companies to buy out KPY Sijoitus’ 12.97% stake.
Oulu ICT bought 327,278 of the shares for €93.7 each to remain the second-largest shareholder of DNA – which is owned by former regional telcos that became holding companies – giving it a 26.03% stake after paying a total €30.67m (US$41.5m).
Finda, already DNA’s largest shareholder, acquired 386,159 shares at the same price to increase its holding to 37.12% by spending €36.18m (US$48.96m). PHP Holding snapped up the same number of shares also at the same price to assume a 24.31% stake.
Before Oulu ICT waded into the deal, Finda and PHP Holding had agreed to equally split KPY Sijoitus’ 1,099,596 shares between themselves. That agreement would have seen PHP Holding overtake Oulu ICT, increasing its stake to 26.24% compared with the latter’s 22.17%.
Following the latest deal, the next largest shareholder after Finda, Oulu ICT and PHP Holding is Ilmarinen Mutual Pension Insurance Company with 5.01%.
