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Kymen Puhelin and Telekarelia to Merge with Elisa Oyj


Monday, 10 Jun 2013 09:10am EDT 

Elisa Oyj announced that the Boards of Directors in Elisa and Kymen Puhelin have agreed that Kymen Puhelin will merge into Elisa and have signed the merger plan. At the moment Elisa Group owns 49.6% of Kymen Puhelin. As merger consideration, 144 new Elisa shares will be given in exchange for each Kymen Puhelin share. No merger consideration will be paid for the shares owned by Elisa Group. There are a total of 12,214 shares owned by shareholders other than Elisa. The Company also announced that the Boards of Directors in Elisa and Telekarelia have agreed with Telekarelia that Telekarelia will merge into Elisa and have signed the merger plan. At the moment Elisa Group owns 66.8% of Telekarelia. As merger consideration, 25 new Elisa shares will be given in exchange for each Telekarelia shares. No merger consideration will be paid for the shares owned by Elisa Group. There are a total of 9,218 shares owned by shareholders other than Elisa. The merger decision will be made at extraordinary shareholders' meetings of Kymen Puhelin and Telekarelia in August. Approval of the merger requires that at least two thirds (2/3) of the votes represented at the shareholders' meeting are in favor of the merger. The estimated registration date is December 31, 2013. 

Company Quote

21.51
0.06 +0.28%
11:29am EDT