Swedish incumbent TeliaSonera announced plans on 18 February to allow shareholders the right to sell every 28th share for SEK 62 (E7).
The price, part of the group’s SEK10bn (E1.13bn) share buyback, represents a 15.5% premium compared with the stock’s…
Swedish incumbent TeliaSonera announced plans on 18 February to allow shareholders the right to sell every 28th share for SEK 62 (E7).
The price, part of the group’s SEK10bn (E1.13bn) share buyback, represents a 15.5% premium compared with the stock’s volume-weighted average value between 19 January and 17 February, the company stated.
A maximum of 160,373,471 shares, or approximately 3.6% of all shares issued by the company, will be subject to the repurchase.
While posting Q4 results on 3 February that highlighted rapid growth in its emerging markets, the group also unveiled plans to raise its dividend to SEK2.75 (E0.31) per share from SEK2.25 (E0.25).
“Strong cash flows and the possible acquisitions foreseeable allow the company to return approximately SEK10bn through this repurchase offer to the shareholders this year in addition to the proposed ordinary dividend,” the company said in a statement.
TeliaSonera recorded flat year-on-year EBITDA, excluding non-recurring items, of SEK9bn (E1bn) for the three months to the end of December. Q4 2010 revenue was also unchanged year-on-year at SEK27bn (E3bn).
