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Swedish government starts sell-off of TeliaSonera

Swedish government starts sell-off of TeliaSonera

Sweden's government began selling an 8 percent stake in Nordic telecommunications operator TeliaSonera AB on Wednesday in a first step toward privatizing the company.
The sell-off is only open to institutional investors, the Finance Department said in a statement.
Sweden said previously that it will sell its entire 45.3 percent stake in TeliaSonera as part of a drive to privatize state assets. Government holdings in five other companies, including Nordic banking group Nordea AB and stock market operator OMX AB, will also be sold over the next few years.
"I am pleased to be able to present the first step toward decreasing state ownership," Financial Markets Minister Mats Odell said. "Through this deal, we are decreasing our ownership in TeliaSonera in a responsible way."
The transaction will be made through Deutsche Bank AG and UBS Investment Bank, and is expected to be completed by 6 p.m. (1600GMT) Thursday. The government said it has agreed not to sell any more TeliaSonera shares before April 8, 2008, without approval from Deutsche Bank and UBS.


Updated : 2021-04-20 15:55 GMT+08:00