TeliaSonera completes TEO transaction with East Capital and continues to increase ownership through open market purchases
- 2012-05-10 16:00 UTC
The voluntary takeover bid process for remaining outstanding shares continues as previously announced.
On May 8 TeliaSonera announced the agreement to acquire 7.87 percent of the shares in TEO LT from East Capital for EUR 0.637 (LTL 2.20) per share and the transaction was completed on May 10.
Since 8 May, TeliaSonera has also acquired an additional 6.55 percent of the outstanding shares in TEO LT through open market purchases at the same price (EUR 0.637/LTL 2.20) as paid to East Capital. As a result of these transactions, TeliaSonera’s ownership in TEO LT will after settlement increase to 82.71 percent.
The bid in the open market continues and the process to launch the announced voluntary takeover bid for the remaining outstanding shares in TEO LT is ongoing, and will start as soon as all related approvals are received. All shareholders of TEO LT will be offered the same price of EUR 0.637 (LTL 2.20) per share.
TeliaSonera is committed to providing the same opportunity to all shareholders who wish to sell their shares in TEO LT.
TeliaSonera AB discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The information was submitted for publication at 6 p.m. CET on May 10, 2012
For more information, please call the TeliaSonera press office + 46-771 77 58 30, firstname.lastname@example.org
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.
TeliaSonera provides network access and telecommunication services in the Nordic and Baltic countries, the emerging markets of Eurasia, including Russia and Turkey, and in Spain. TeliaSonera helps people and companies communicate in an easy, efficient and environmentally friendly way. Our ambition is to be number one or two in all our markets, providing the best customer experience, high quality networks and cost efficient operations. TeliaSonera is also the leading European wholesale provider with a wholly-owned international carrier network. In 2011, net sales amounted to SEK 104 billion, EBITDA to SEK 36.9 billion and earnings per share to SEK 4.20. The TeliaSonera share is listed on NASDAQ OMX Stockholm and NASDAQ OMX Helsinki. Read more at www.teliasonera.com.