Sanoma sells 21% stake in DNA for €181m
Sanoma, the Finnish media group, has decided to sell its 21.11% stake in DNA to the other four major shareholders of the telco for €181.5m.
The buyers are Finda, Oulu ICT, PHP Liiketoiminta and Osuuskunta KPY.
The transaction, which values DNA at…
Sanoma, the Finnish media group, has decided to sell its 21.11% stake in DNA to the other four major shareholders of the telco for €181.5m.
The buyers are Finda, Oulu ICT, PHP Liiketoiminta and Osuuskunta KPY.
The transaction, which values DNA at around €860m, is expected to close in March 2012.
“This transaction is in line with our strategy to focus on consumer media and learning. It also strengthens our balance sheet and enables us to further develop our portfolio,” says Harri-Pekka Kaukonen, President and CEO of Sanoma.
