Sonera places EUR130m rival indicative offer for Anvia Telecom

22 Jun 2016

Finnish full-service operator Sonera, part of the Telia Company group, has made an indicative offer worth EUR130 million (USD147 million) for smaller telco Anvia Telecom, which operates a broadband network in western Finland. ‘Sonera is highly interested in pursuing the transaction and is ready to commit all necessary resources to carry out the process on an expedited basis,’ announced CEO Valdur Laid, while the Swedish-owned company clarified on its group investor relations webpage that its offer is solely for Anvia Telecom and not its parent Anvia Group.

The bid from Sonera competes with an existing offer from rival Finnish telco Elisa, which is currently Anvia’s largest shareholder with a 30%-plus stake. Anvia disclosed on its website that its board has approved in principle a EUR107 million offer from Elisa to take full control of Anvia, and an extraordinary general meeting is scheduled for 29 June to take a position on Elisa’s bid. Meanwhile, Finda Group, the parent of another Finnish operator, DNA, has reportedly offered EUR120 million in cash for Anvia.

Anvia Telecom’s networks largely cover three western cities of Vaasa, Seinajoki and Kokkola plus smaller towns, reaching more than 100,000 households. In 2015 Anvia’s net sales amounted to EUR63.5 million, with EBITDA of EUR15.2 million (EBITDA margin of 23.9%), according to Sonera’s release. Anvia offers high speed fixed broadband, fixed telephony, business communications/ICT and TV services, although the TV segment is apparently not included in the assets being bid on by Sonera (as it is operated under Anvia’s ‘Entertainment’, not ‘Telecom’, division).

Finland, Anvia, DNA Finland, Elisa Corporation, Telia Finland