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.