DNA owners call off sale

16 Jul 2013

Less than a week after confirming that talks were still ongoing with potential new private equity shareholders, the owners of Finnish fixed line and mobile operator DNA have now confirmed that a sale will no longer take place. According to Reuters, the telco’s current stakeholders will now place a focus on expanding the business, with DNA board chairman Jarmo Leino cited as saying: ‘The owners have decided to keep the existing ownership base as it is to clarify the market situation.’

As previously reported by CommsUpdate, last month it was revealed that private equity firms Apax Partners, Bain Capital, BC Partners, EQT Partners and Providence had made it through to the second round of the auction process, after DNA had hired Swiss financial services company UBS to lead the sale or listing of its shares.

Finland, DNA Finland