TeliaSonera to buy more shares in Lithuania's TEO LT and launch voluntary takeover bid for remaining shares
May 08, 2012 (Menafn - M2 EQUITYBITES via COMTEX) --Nordic telecoms operator TeliaSonera AB (stockholm:TLSN) announced today that it has agreed to acquire a further 7.87% stake in Lithuanian telecoms company TEO LT.
The shares will be purchased from East Capital for EUR0.637 (LTL2.20) per share, or a total of of EUR38.9m, increasing TeliaSonera's ownership in the company to 76.16% from its current stake of 68.29%.
In addition, TeliaSonera intends to invite all other shareholders to participate in a voluntary takeover bid for the remaining outstanding shares at the same price, corresponding to a total amount of approximately EUR118.0m.
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