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Provider: Reuters Investment Profile
Provider: GlobalData

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Elisa Oyj Acquires Domestic Fixed Network Operator PPO’s Business

Thursday, 20 Dec 2012 01:00am EST 

Elisa Oyj announced that Elisa and Osuuskunta PPO have signed an agreement in which Elisa acquires fixed network operator PPO's telecom and IT (information technology) businesses. The acquisition includes PPO's ownerships in fixed network operators Kymen Puhelin Oy and Telekarelia Oy. The acquisition price is approximately EUR 101 million, of which EUR 96 million in cash and EUR 5 million in Elisa shares (approximately 300,000 shares or 0.2% of Elisa's share capital). The acquisition price includes 100% of PPO-Yhtiot Oy's, 46% of Kymen Puhelin Oy's and 67% of Telekarelia Oy's share capital. The transaction has no impact on Elisa's dividend payment capabilities. The transaction is subject to the approval of the Finnish Competition Authorities and normal condition precedents. Elisa estimates to close the transaction during the first quarter 2013. 

Company Quote

0.22 +1.05%
11:29am EDT