EC approves reintegration of TeliaSonera subsidiaries

5 Oct 2006

The European Commission has given TeliaSonera Finland permission to absorb five subsidiaries in a bid to simplify its legal structure and reduce costs. The EC had previously required a legal separation of TeliaSonera’s fixed and mobile networks and services businesses in Finland and Sweden as a condition of the merger of Telia and Sonera in 2002. The changes will take effect on 31 December.

Meanwhile, TeliaSonera Finland has revealed plans to close a number of retail outlets and rebrand others, resulting in the loss of around 110 jobs. The decision was prompted by TeliaSonera taking full control of retailer Paamies in the summer, buying up the 50.4% of the company that it did not already own. It will now rebrand the Paamies stores under its core Sonera Piste name, and close outlets in areas where there is overlap.

Finland, Telia Finland