Telenor and Telia merger precedes privatization

Article Abstract:

The merger of the last two state-owned telecommunications giants in Europe has been agreed by the Norwegian and Swedish governments. Telenor of Norway and Telia of Sweden will join forces following the completion of due diligence later this year, with Sweden holding 60% and Norway 40% of the merged entity. The two governments plan to equalise their holdings at 33.4% each through an initial public offering (IPO) and subsequent sales of stock. The IPO, which will see shares listing in Stockholm, Oslo and other international exchanges, will take place no later than the end of 2000.

Europe, Sweden, Communications Equipment, Telecommunications Equipment, Communications Equipment Manufacturing, Norway, Telecommunications equipment industry, Telecommunications systems, Telenor A/S, Telia International AB

---

Puerto Rico Telephone Company seals sale

Article Abstract:

The sale of Puerto Rico Telephone Co. has gained US Federal Communications Commission approval, following a delay of several months. Damage caused by a Sep 1998 hurricane has been cited as one reason for the delay. A consortium headed by GTE purchased 51% of Puerto Rico Telephone for $2 billion. The approval concludes the largest sale in Puerto Rico's ongoing privatization program.

United States, Puerto Rico, GTE Corp., GTE, Privatization, Privatization (Business), Puerto Rico Telephone Co.

---

Vivendi to buy Monaco Telecom

Article Abstract:

Monaco is close to finalising the sale of a 51% stake in telecoms operator Monaco Telecom to Vivendi of France. The deal, thought to be worth around E107m (US$118m), was due to close as Privatisation International went to press. Also bidding for the stake was France Telecom, following the withdrawal of Telecom Italia from the process.

France, Monaco, Vivendi S.A., Monaco Telecom

Similar abstracts:

• Abstracts: Pakistan privatization tries to progress. Croatia seeks quick telecoms sale. Retail investors sold on Telstra 2 >BY Sharon Klyne

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.