TeliaSonera buys 82.3% of NextGenTel for NOK 1.54 billion

Tuesday 16 May 2006 | 15:45 CET | News
TeliaSonera has acquired 82.3 percent of Norwegian broadband service provider NextGenTel for NOK 65.50 per share. The shares were acquired from Geocapital, Northzone, Orkla and others. Among the sellers are also members of NextGenTel's management team, including Olav Stokke (CEO) and Odd Bjørn Ur (CFO). The total purchase price amounts to NOK 1.54 billion, valuing NextGenTel's total issued share capital at approximately NOK 1.9 billion. TeliaSonera will subsequently make a mandatory offer for all outstanding shares of NextGenTel at the same price. The offer price represents a premium of 45.2 percent related to the last traded price on the Oslo Stock Exchange. When an identical public offer is made to the remaining shareholders at a later stage, the Board of Directors in NextGenTel will officially comment on the offer. NextGenTel provides broadband services via ADSL and has a Norway-wide WiMAX licence.

Categories: Internet
Companies: Telia
Countries: Norway
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