Elisa to sell German unit

1 Apr 2004

Finland-based Elisa Communications has revealed plans to sell its wholly-owned German subsidiary Elisa Kommunikation GmbH to a consortium led by Apax Private Equity Funds for EUR70 million. Of the total, EUR30 million will be paid in cash with EUR40 million made in a series of payments between 2006 and 2008. Elisa expects the sale to be finalised within the next few months.

Germany, 1&1 Versatel