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Swedish Telia offers $2.6bn for Norwegian Netcom

By Pia Heikkila

Published: 26 June 2000 15:21 GMT

The Swedish Telecommunications operator Telia has bought 51.5 per cent of Norwegian mobile phone operator Netcom - paying $2.6bn for the stake.

Telia is the largest mobile phone operator in the Nordic countries, with over four million mobile phone subscribers. Netcom - which is 40 per cent owned by the Danish operator Tele Danmark - is Norway's second largest mobile operators with around 750,000 subscribers.

The acquisition signals stormy tides in the Scandinavian communications market where Telia's former merger partner Norwegian Telenor is expected launch an IPO after the summer, according to reports.

The Finnish operators Sonera is also seeking a merger partners and aims to be in talks with major operators by the end of the year.

For related news, see
'Norwegian telcos face £7.5m entry fee for 3G auction' http://www.silicon.com/a37485
'Finland ponders future of Sonera ownership' http://www.silicon.com/a37476
'Sonera buys Across Wireless for £535m' http://www.silicon.com/a37086

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