Feeds

TeliaSonera says 'non' to Gallic advances

France Telecom offer rejected

The Essential Guide to IT Transformation

TeliaSonera has turned down a $42bn offer from France Telecom, owner of the Orange brand, after the board decided unanimously that the company was worth more than that.

This belief is in stark contrast to France Telecom shareholders, who sent the company's shares down 3.4 per cent when the offer became public, reflecting a belief that TeliaSonera was being overvalued.

While owning the largest operator in Sweden would no-doubt be a nice thing, and the economies of scale favour growth, the target's holdings in Russia and the rest of eastern Europe are the real attraction. TeliaSonera has operations in the Ukraine, Turkey, Tajikistan and Estonia to name just a few, and most of the European operators are looking to expand in that direction.

The TeliaSonera board may have rejected the initial offer, but France Telecom is planning to spend a couple of weeks considering its position and negotiations will continue. The final decision will depend on the Finnish and Swedish governments, which between them own a controlling interest in TeliaSonera, but neither will comment for the moment. ®

Boost IT visibility and business value

More from The Register

next story
Scotland's BIG question: Will independence cost me my broadband?
They can take our lives, but they'll never take our SPECTRUM
Trying to sell your house? It'd better have KILLER mobile coverage
More NB than transport links to next-gen buyers - study
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
iWallet: No BONKING PLEASE, we're Apple
BLE-ding iPhones, not NFC bonkers, will drive trend - marketeers
NBN Co adds apartments to FTTP rollout
Commercial trial locations to go live in September
Samsung Z Tizen OS mobe is post-phoned – this time for good?
Russian launch for Sammy's non-droid knocked back
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.