Shareholders representing more than 90% of the shares in Sonera have accepted Telia's public offer

Telias [SSE:TLIA] public offer to holders of shares and warrants in Sonera [HEX:SRA, NASDAQ:SNRA] has been accepted by owners representing more than 90% of the total number of shares and votes in Sonera. According to the calculations, 1 060 062 362 Sonera shares (including shares represented by Sonera ADS:s) and 26 750 072 Sonera warrants, in aggregate representing 95.0% of the shares and votes (fully diluted) in Sonera, have been tenderd. An important condition for the merger between Telia and Sonera has thereby been fulfilled.
The board of Telia has established that all conditions to the merger have been fulfilled, with the exception of the condition in section 1.01 (e) (viii) in the combination agreement between Telia and Sonera. Telia's board will consider this condition before the trading in the newly issued shares commences.
The Helsinki Exchanges has decided to admit the Telia shares and warrants 2002/2005:A to listing on the main list of the Helsinki Exchanges. Moreover, the Telia ADSs have been admitted for trading on Nasdaq.
The newly issued Telia shares and warrants are expected to be available on book-entry accounts on Monday, December 9, 2002, when trading in the newly issued Telia shares, ADS:s and warrants 2002/2005:A is intended to commence.
Trading in Sonera exchanged shares and exchanged warrants 1999A is expected to commence on the Helsinki Exchanges Pre List today, November 21, 2002.
Trading in already issued Telia shares will continue as usual on the Stockholm Stock Exchange.
For further information journalists can contact:
Telia's Press Office, +46 8 713 58 30
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