TeliaSonera moves forward in plan to acquire TEO LT

By FNE Staff
    The board of TEO LT announced that it has determined that TeliaSonera presented a fair price in its purchase offer for the telecommunications company.

    The news was reported in the Lithuanian news source vz.lt.

    TeliaSonera, which already owns 60% of the Lithuanian company, offered LTL 527 million 153 million Euro) for all outstanding shares in TEO LT in August. At that time, the offer was valued at 30% over the daily closing share price.

    TeliaSonera, a Swedish company and leading telecommunications company in the Baltic/Nordic region, made a similar offer regarding Estonian company Eesti Telekom in August.