TeliaSonera (OMX: TLSN) said it has completed a transaction with East Capital and acquired the asset manager’s 7.87% stake in Lithuanian telecommunications company TEO LT (VSE: TEO1L, formerly Lietuvos Telekomas). TeliaSonera announced last week that it is making a public offer for all the remaining shares in TEO LT at 0.637 (LTL 2.20) per share in cash. It is purchasing stocks in the open market and has now increased its stake to 82.71%. Previously TeliaSonera had been holding just over two thirds of the stocks following a cash offer in 2009 which yielded a few percentages and the 1998 joint purchase of the then independent Telia Ab and Sonera Oyj of a 60% stake in Lietuvos Telekomas.
There is also market speculation reported by Dagens Industri, that the company is looking for takers for Norwegian telecommunications company NextGenTel. The Bergen based internet service provider has around a quarter of a million broadband customers. Dagens Industri thinks it might command something between 1 to 1.5 billion Swedish kronor with Swedish venture capitalists as the most likely buyer.
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