TeliaSonera Finland's purchase offer for shares of the mother company of the Auria Group widely accepted
- 2004-01-08 10:08 UTC
TeliaSonera Finland's purchase offer for shares of the mother company of
the Auria Group widely accepted
The arrangement whereupon TeliaSonera Finland purchases the shares of
Loimaan Seudun Puhelin Oy, mother company of the Auria Group, will
create synergy and volume benefits as well as strengthen TeliaSonera
Finland´s customer orientation and competitive capacity, and will also
increase the efficiency in the company.
As TeliaSonera Finland Oyj's purchase offer for the shares of Loimaan
Seudun Puhelin Oy terminated on December 30, 2003, TeliaSonera Finland
had received notifications of acceptance from shareholders representing
41.2 per cent of the share capital of Loimaan Seudun Puhelin. Including
the 55.0 per cent previously owned by TeliaSonera Finland, the company
now holds 96.2 per cent of the shares of Loimaan Seudun Puhelin.
Consequently, TeliaSonera Finland now has a redemption right and
commitment according to the Companies Act in respect of the remaining
shares. The redemption procedure starts in the first half of 2004. A
trustee will be appointed to represent the minority shareholders'
interests. The trustee will be appointed by a court of law by the
application of Loimaan Seudun Puhelin. According to the Companies Act,
the redemption price shall be equivalent to the current price.
TeliaSonera Finland announced on September 17, 2003 that it intends to
acquire full ownership in the Auria Group, a Finnish telecom operator in
the Southwest of Finland. The Auria Group consists of Loimaan Seudun
Puhelin Oy and its subsidiary Turun Puhelin Oy, both of which use the
Auria brand. The Auria Group has 130,000 fixed customers in Southwest
Finland. In consequence to the business deal, about 21,000 TeliaSonera
Finland's consumer customers and 9,400 SME customers became Auria's
customers. During 2002, the Auria Group's revenues were EUR 133 million,
EBITDA was EUR 45 million, CAPEX was EUR 12 million, and the Group had
TeliaSonera Finland's purchase offer was directed at all shares in
Loimaan Seudun Puhelin that had been issued before the last day of
validity of the offer and that were not owned by TeliaSonera Finland.
The period of offer was from October 1, 2003 to December 30, 2003. The
price offered was EUR 4,400 per share.
Loimaan Seudun Puhelin Oy and its fully-owned subsidiary Turun Puhelin
Oy will combine on April 1, 2004 to form Auria Oy. The aim in the
structural and ownership arrangements is to create a strong regional
player that will combine local customer knowledge with national services
and operations models. Auria Oy and TeliaSonera Finland are a good
match, as they both focus on profitable growth and customer driven
For further information journalists can contact:
Jyrki Karasvirta, Vice President, Communications and Brand Marketing,
tel. +358 2040 63353, e-mail: email@example.com
Statements made in the press release relating to future status or
circumstances, including future performance and other trend projections
are forward-looking statements. By their nature, forward-looking
statements involve risk and uncertainty because they relate to events
and depend on circumstances that will occur in the future. There can be
no assurance that actual results will not differ materially from those
expressed or implied by these forward-looking statements due to many
factors, many of which are outside the control of TeliaSonera.
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