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Fixed

Novator acquires stake in Saunalahti

Thursday 19 May 2005 | 15:23 CET | News
Novator’s CEO, Fredrik Danielsson, is open for talks on consolidation in Finland’s telecoms market following the company's launching of a bid for Saunalahti, reports Dow Jones Newswires. Novator, controlled by Icelandic investor Thor Bjorgulfsson, has acquired 33.5 percent of Saunalahti, and aims to launch a bid of EUR 1.90 a share for the rest of the shares. The bid values the firm at EUR 259 million. According to Danielsson, Novator aims to use Saunalahti as a platform to expand in Europe. Novator may expand into one or two countries - most likely in Eastern Europe - in the short term.

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Categories: Fixed
Countries: Finland
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