TeliaSonera increses its stake in Xfera Móviles
TeliaSonera reached an agreement today to increase its ownership interest in Xfera Móviles, S. A. from 16.45% to 76.56%
14.06.2006
TeliaSonera AB, the leading telecommunications company in the Nordic and Baltic region reached an agreement with other shareholders of Xfera today to increase its ownership interest to 76.56%.
Based on price paid for the shares acquired, the company as a whole is valued at up to 475 million Euro. An initial payment of 125 million Euro is to be made for the shares plus a complementary payment of up to 350 million Euro, on the basis of the company's future results.
The Spanish group ACS will continue to be a shareholder of the company with a 17% stake. FCC will continue to have a 3.44% stake and the remaining 3% stake will be held by Telvent.
This transaction enables TeliaSonera to enter into a new market in Europe, which is of great interest given its size, as a 3G operator. In the opinion of TeliaSonera, the overall conditions of the Spanish market combined with the drop in the price of 3G equipment and mobile terminals will provide Xfera with the opportunity to establish itself as the fourth operator in this market. The company will launch operations at the end of this year.
Based on price paid for the shares acquired, the company as a whole is valued at up to 475 million Euro. An initial payment of 125 million Euro is to be made for the shares plus a complementary payment of up to 350 million Euro, on the basis of the company's future results.
The Spanish group ACS will continue to be a shareholder of the company with a 17% stake. FCC will continue to have a 3.44% stake and the remaining 3% stake will be held by Telvent.
This transaction enables TeliaSonera to enter into a new market in Europe, which is of great interest given its size, as a 3G operator. In the opinion of TeliaSonera, the overall conditions of the Spanish market combined with the drop in the price of 3G equipment and mobile terminals will provide Xfera with the opportunity to establish itself as the fourth operator in this market. The company will launch operations at the end of this year.