Telenor Agrees to Enter Finnish Telecom Market With Acquisition of DNA; Shares Fairly Valued
Telenor announced April 9 that it agreed to acquire a 54% position in DNA, the third-largest wireless phone company in Finland, from DNA’s two largest shareholders. Once that deal is completed, Telenor will make a general offer for all outstanding shares at EUR 20.90 per share. Telenor will initially pay EUR 1.5 billion for the 54% stake, which values DNA at about 11.1 times enterprise value/EBITDA, at the high end of phone company valuations. However, DNA is a fully converged operator, so besid...
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