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TeliaSonera acquires majority holding in NextGenTel Holding ASA.

INTERNET BUSINESS NEWS-(C)1995-2006 M2 COMMUNICATIONS LTD

Finnish-Swedish telecomms group TeliaSonera AB said on Tuesday (16 May) that it had acquired an 82.3% holding in the Norwegian broadband provider NextGenTel Holding ASA.

The acquisition would broaden TeliaSonera's offerings in Norway, where the company is number two player in mobile communication.

TeliaSonera would pay a total of NOK1.54bn in cash for the shares.

Following the acquisition TeliaSonera would present a public offer to the remaining shareholders in NextGenTel in line with the rules in Norway for mandatory offers.

NextGenTel would continue to operate as a broadband provider under its own brand in the Norwegian market.

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Comment:TeliaSonera acquires majority holding in NextGenTel Holding ASA.
Publication:Internet Business News
Article Type:Brief article
Geographic Code:4EXNO
Date:May 16, 2006
Words:118
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