Top owner in Finnish telecoms firm DNA increases stake

HELSINKI Mon Dec 30, 2013 8:08am EST

HELSINKI Dec 30 (Reuters) - The top shareholder in Finland's third-biggest telecoms operator, DNA, raised its stake in a deal that valued it at around 808 million euros ($1.1 billion), far less than the 1.3 billion euros it was expected to fetch in an aborted auction earlier this year.

Oulu ICT sold its 26 percent stake in DNA for 210 million euros to fellow owners, it said on Monday.

Leading shareholder Finda Group increased its stake to 49.9 percent from 37.1 percent, while PHP Holding increased its stake to 37.6 percent from 24.3 percent, the companies said.

DNA's shareholders had been looking to sell their stakes amid fierce price competition in the industry, and sources said private equity investors had placed bids. But in July the owners said they shelved plans for a sale. ($1 = 0.7258 euros) (Reporting by Helsinki Newsroom; Editing by Louise Heavens)

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