Telenor Group gets final nod for its purchase of DNA shares

21 Aug 2019

Norway’s Telenor Group has secured the approval of the Ministry of Economic Affairs and Employment for its acquisition of a 54% stake of DNA Finland’s shares from its two largest shareholders. In a press release confirming the development, DNA noted that the government’s approval for the deal follows an announcement from the Finnish government earlier this month confirming the transaction would not impact DNA’s operating licences. Prior to that, the EC gave its blessing to the deal last month, while both Finda Telecoms Oy and PHP Holding Oy – DNA’s two largest shareholders from which Telenor will acquire its majority stake in the Finnish operator – approved the transaction in May 2019.

Telenor Group is now expected to complete the share transaction to complete by the end of this month, after which it will trigger a mandatory public tender offer for all remaining outstanding shares in DNA.

Finland, DNA Finland, Telenor Group