TeliaSonera launched a SKr4.9bn ($670m) bid on Monday to take full control of affiliates in Estonia and Lithuania, despite economic turmoil in the Baltic countries. The Nordic telecoms operator aims to take advantage of reduced asset prices and cash-strapped minority shareholders to buy up remaining stakes in Eesti Telekom of Estonia and Lithuania’s TEO. The move comes as TeliaSonera tries to increase its grip on investments in several emerging markets, including Russia and Turkey, after years of wrangling with other shareholders.

This entry was posted by Gwen Robinson on Tuesday, August 25th, 2009 at 4:49 and is filed under Capital markets, M&A. Tagged with Eesti Telekom, teliasonera, TEO. Edit this entry.