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Telenor closes €1.5B acquisition of DNA's 54% stake

Norway's Telenor ASA completed the €1.5 billion acquisition of 54% stake in DNA Oyj after receiving regulatory approvals from the Finnish government and the European Commission.

Following the deal completion, Telenor is launching a mandatory public tender offer of €20.90 per share for the Finnish operator's outstanding shares. The price is the same as in the transactions to purchase holdings from Finda Telecoms Oy and PHP Holding Oy, DNA's largest shareholders with stakes of 28.3% and 25.8%, respectively.

"Telenor's holding of shares and votes in DNA has exceeded the mandatory offer thresholds," Telenor Group CFO Jørgen Arentz Rostrup said Aug. 21.