OSLO: Norwegian mobile operator Telenor has agreed to buy a 54-percent stake in Finnish telecoms firm DNA for 1.5 billion euros (US$1.69 billion), it said on Tuesday.
The deal marks the entry of the Oslo-based company onto the Finnish market. It bought a 28.3 percent stake from Finda Telecoms Oy and 25.8 percent from PHP Holding Oy, DNA’s two biggest owners.
“With the transaction, Telenor gets a strong position across fixed and mobile in an attractive and growing telecom market, and further strengthens its position in the Nordic region,” the company said.
DNA launched as Finland’s third local mobile operator in 2001, and in its early stages was owned by some 40 local telecom operators from across the country. DNA listed on the Helsinki stock market in 2016. -- Reuters