TeliaSonera would offer 0.637 euros per share within the framework of the tender offer that would expire on 29 June, Teo LT reported through the NASDAQ OMX Vilnius Stock Exchange.
The Supervision Service of the Bank of Lithuania approved a respective voluntary tender offer circular submitted by TeliaSonera on Wednesday.
The Scandinavian telecommunications company notified about its intentions to launch a tender offer to buy the remaining shares in Teo LT early in May. On 10 May, it said that its shareholding in Teo LT had increased to 82.71 percent.
TeliaSonera acquired 7.87 percent of Teo LT from East Capital for 134.449 million litas (EUR 38.97 m), and further 6.55 percent on the stock market for 111.911 million litas between 7-10 May.
Teo LT, which is quoted on the blue-chip Main List of the NASDAQ OMX Vilnius Stock Exchange, closed at 0.637 euros on Tuesday.
2012-05-31 11:22
TeliaSonera to launch buyout of remaining outstanding shares in Lithuania’s Teo LT
Scandinavian telecommunications company TeliaSonera will launch a voluntary tender offer to buy out the remaining outstanding shares in Teo LT, Lithuania’s integrated telecommunications, IT and TV services company, on 5 June.
TEO LT / Andriaus Ufarto/BFL nuotr.
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