3i divests DNA Finland stake

21 Dec 2009

According to AltAssets, UK private equity firm 3i has sold its 13% stake in Finnish telco DNA, with the holding having been snapped up by fellow Finnish telecoms groups Lannen Teletieto and Oulun Puhelin, as well as the Ilmarinen Mutual Pension Insurance Company. The UK firm originally acquired a 25% holding in DNA in early 2007 for EUR140 million (USD200 million), although this was subsequently lowered to 13% following the merger of DNA with a number of local operators later that same year. Erkki Nikoskelainen, part of 3i’s Nordic team, said of the equity firm’s period of involvement with the operator: ‘We are very pleased to have worked so closely with DNA on its exciting journey to become a strongly established competitor in the Finnish telecommunications space. We are impressed with how quickly DNA has strengthened its market position, both in fixed line and mobile services, and believe the company is optimally positioned to succeed in the next stage of its development.’

Finland, DNA Finland