TeliaSonera to acquire Auria Group

18 Sep 2003

Nordic giant TeliaSonera says it is set to acquire Finnish fixed line telco Auria Group for a cash and share payment of around EUR60 million (USD67.01 million). The Auria Group, which claimed around 130,000 customers in the south west of the country at the end of 2002, is split into two separate units, Loimaan Seudun Puhelin (LSP) and its subsidiary Turku Telecom. In the first stage of the purchase, TeliaSonera said it will increase its holding in LSP from 29% to 40%, with plans to raise it again to 55% by the end of this month, following which it will acquire the remainder via a EUR42 million share offering.