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TELECOM

TeliaSonera’s Baltic acquisitions move forward

TeliaSonera has yet to take over full control of Lithuania’s TEO LT as planned, the Nordic telecommunications operator said on Tuesday, but it has acquired nearly all of Estonia's Eesti Telekom.

Published: 13 October 2009 17:41 CEST

TeliaSonera in late August offered almost €480 million ($712 million) to buy out minority shareholders in Eesti and TEO LT.

The company already had a stake of nearly 60 percent in each Baltic operator.

The Estonian government in September approved the sale of its 27 percent interest in Eesti to TeliaSonera, which now controls 97.58 percent of the shares and plans to acquire the remainder as well.

But TeliaSonera was only able to gain control of around 68 percent of TEO LT.

TeliaSonera, formed by the merger of Telia of Sweden and Sonera of Finland, in 2008, had more than 2.0 million clients in Lithuania and 778,000 in Estonia at the end of that year.

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BUSINESS

Japan’s NEC to buy Danish IT firm KMD for billions

Japanese multinational NEC said Thursday that it would buy Denmark's largest IT firm KMD for $1.2 billion as part of its effort to expand its European and global businesses.

Published: 27 December 2018 12:23 CET
Japan’s NEC to buy Danish IT firm KMD for billions
File photo: Liselotte Sabroe/Ritzau Scanpix

Under the plan, the information technology giant will buy all shares of KMD Holding ApS for 8 billion kroner by the end of February next year, NEC said in a statement.

“Through this acquisition, NEC will acquire a business model that leverages platforms in the digital government domain as it aims to expand business from northern Europe to the whole of Europe and globally,” it said.

The acquisition will be finalised after NEC completes the necessary procedures, including getting the approval of the European Commission.

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