Finnish, Swedish State Telecoms Plan to Merge
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Associated Press
State-controlled telecommunication groups Sonera of Finland and Telia of Sweden announced plans to merge in a $6.4-billion deal. The combined company, to be based in Stockholm, would be the dominant telecom operator in the Nordic and Baltic regions, with interests in Russia and continental Europe.
Shareholders in the larger Telia would own about 64% of the combined company, and Sonera shareholders would get 36% after a stock swap, the companies said.
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