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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Directors Deals Ltd.

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Eniro AB's Subsidiary Merges with 1888

Friday, 1 Feb 2013 02:00am EST 

Eniro AB announced that Eniro Norge AS has decided to consolidate parts of the market for directory assistance services through a merger with the low-price challenging brand, 1888. Eniro Norge AS signed a merger agreement on February 1, 2013 with Marell Invest AS and TV2 AS, the principal owners of the Norwegian directory assistance service, 1888 Vaersagod! AS. Following the merger, Eniro will control 60% of the joint operations, while the owners of 1888 will control the remaining 40%. In 2012, Eniro’s revenues from the proprietary directory assistance service, 1880, will total approximately SEK 75 million, while 1888’s revenues for the corresponding period will be about SEK 65 million. The transaction as such will not impact cash-flow and will not generate any capital gain impact. No purchase consideration arose. 

Company Quote

1.9 +3.74%
17 Apr 2014