TeliaSonera assumes TEO controlling interest from subsidiary

28 Jun 2011

Amber Teleholding, the holding company of Swedish telecoms operator TeliaSonera, has transferred all its shares in Lithuania’s incumbent fixed line operator TEO LT to its parent company, TEO LT has announced in a press release. Under the transaction, which has received approval from the Radio and Television Commission of Lithuania, TeliaSonera has acquired a 62.94% stake in TEO LT from its subsidiary, which together with the 5.14% shareholding it already holds in the telco, brings its total interest to 68.08%. The stake corresponds to 528,843,272 ordinary shares, representing the same number of shares directly and indirectly held by TeliaSonera through Amber Teleholding before the transaction.

Amber Teleholding acquired an initial 60% stake in TEO LT from the Lithuanian government in July 1998. Following the cancellation of the telco’s treasury stocks in September 2010, Amber Teleholding’s total interest increased to 62.94%. TEO’s other shareholders are East Capital (7.18%) and the State of Lithuania (0.05%), while the remaining 24.69% is listed on the Vilnius bourse.

Lithuania, Amber Teleholding, Telia Company, Telia Lietuva