Anvia mulling DNA's EUR120m binding bid alongside Elisa, Sonera bids

29 Jun 2016

Finnish telecoms operator DNA has announced that it has made a binding cash offer of EUR120 million (USD132.6 million) for Anvia Telecom and four other Anvia subsidiaries, namely: Anvia IT-Services, Anvia Hosting, Anvia TV Oy and Watson Nordic. The offer follows rival approaches from Anvia’s existing largest shareholder Elisa (offering EUR107 million for the Anvia group) and Telia Company’s Finnish division Sonera (EUR130 million for Anvia Telecom alone). DNA notes that it is prepared to sign and close the acquisition and pay in full with cash immediately, whereas Elisa (which currently holds 38% of Anvia) is only willing to pay EUR31 million in cash, while making up the shortfall in shares. For its part, Sonera is only willing to buy the company’s broadband and telephony network operating division and has no plans to include pay-TV operations or the other aforementioned subsidiaries in the deal.

Jukka Leinonen, CEO of DNA, commented: ‘According to DNA’s view, the fair value of Anvia Telecom and the four other Anvia subsidiaries included in our offer is at least EUR120 million in total. Our cash offer to Anvia is binding and the offered purchase price is well above the price agreed between Anvia and Elisa’.

Anvia’s Extraordinary General Meeting is due to take place today (29 June 2016), suggesting a decision could be imminent.

Finland, Anvia, DNA Finland