Sonera to acquire Päämies

TeliaSonera Finland Oyj will acquire 50.4% of the shares of Päämies-kauppiaat Oy. The Päämies chain will become a wholly-owned subsidiary of the company.

TeliaSonera Finland will acquire 50.4% of the shares of Päämies-kauppiaat Oy from the other shareholders of the company and thus increase its holding from 49.6% to 100%. The parties have agreed not to disclose the value of the transaction.

- We want to operate close to our customers and make our services easily and expertly available. The bundling of terminal devices and mobile services has given the distribution chains an increasingly important role in the service entity. This transaction allows us to develop our distribution chains so that we can provide our customers with the best services as efficiently as possible, says Esa Rautalinko, Senior Vice President of Consumer Mobile Services & Entertainment at TeliaSonera Finland.

Päämies is a national chain that provides communications services to consumer and business customers. The chain has 48 outlets in 30 towns. Päämies provides terminal devices and operator services related to wireless communications and broadband as well as security systems and maintenance and installation services. In 2005, the net sales of Päämies-kauppiaat Oy amounted to EUR 29.5 million.

The closing of the transaction is subject to the approval of the Finnish Competition Authority.

For more information, please contact:
TeliaSonera Finland
Senior Vice President Esa Rautalinko, Consumer Mobile Services and Entertainment,
tel. +358 400 740 997
Vice President Tommi Kolehmainen, Sales, Consumer Mobile Services and Entertainment,
tel. +358 40 302 2002