Telenor Receives Approval from Finda Telecoms and PHP to Acquire Majority Stake in DNA

1 month ago
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Telenor Receives Approval from Finda Telecoms and PHP to Acquire Majority Stake in DNA Image Credit: Gajus/Bigstockphoto.com

Telenor announced last month that it will acquire shares of DNA’s two largest shareholders, Finda Telecoms and PHP Holding, which hold 28.3% and 25.8% of the shares in the company, respectively. Finda and PHP's general meetings this week approved the transaction.

The completion of the transaction is subject to regulatory approvals which Telenor expects to get during the third quarter of 2019.

DNA, based in Helsinki, is an integrated fixed and mobile telecom operator with a solid market position in the fastest growing mobile market in Europe. The company is the third largest mobile operator in Finland, with 2.9 million subscribers and 28% market share.

Telenor sees solid potential for DNA to continue to grow and develop, from continuing to offer more advanced products and upselling existing customers, strengthening its position in the business segment, and leveraging on Telenor’s global scale and strong position in the Nordic region. The transaction is expected to generate material synergies within procurement, roaming, and best practice sharing.

Sigve Brekke, Group CEO, Telenor
DNA is an exciting addition to Telenor Group, and a natural complement to our existing operations in the Nordic region. Not only are we strengthening our footprint in the Nordic region, we are also gaining a solid position across fixed and mobile in the Finnish market and making room for further value creation.

Ray is a news editor at The Fast Mode, bringing with him more than 10 years of experience in the wireless industry.

For tips and feedback, email Ray at ray.sharma(at)thefastmode.com, or reach him on LinkedIn @raysharma10, Facebook @1RaySharma

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