News |

Finnish state to sell off 525 million euro stake in Telia

At current market prices the sale amounts to some 525 million euros.

Telian logo.
File photo. Image: Derrick Frilund / Yle

The Finnish state's investment firm Solidium has announced that it plans to offer all of its shares in the Nordic and Baltic telecoms firm Telia in an off-market sale.

Solidium owns just over 137 million Telia shares, or some 3.2 percent of the corporation.

According to Solidium, Telia's share price on the Stockholm stock exchange was 37.32 Swedish krona per share on Wednesday, saying that a sell-off of the stock would bring in about 525 million euros to Finland's state coffers.

However, it is likely that the final figure will be a bit less than that, since the shares will be sold off-market to international and Nordic institutional investors at a lower per-share rate, Solidium said in a press release issued Thursday.

Telia is a dominantly Swedish-owned mobile network operator with services in Sweden, Finland and the Baltic States. The firm also has operations in parts of Asia and Europe, and employs more than 25,000 workers around the world.

Last week Solidium sold a significant portion of its shares in steel manufacturing giant SSAB, for some 150 million euros.

Solidium is a minority shareholder in 13 listed Finnish companies, including telecom Elisa, chemical industry group Kemira, lift and escalator giant Konecranes, stainless steel concern Outokumpu, financial firm Sampo Group, as well as tech and automation services firm Valmet.

The market value of its investments amounts to roughly 7.9 billion euros, according to Solidium.

Latest in: News


Our picks