TeliaSonera acquires more shares in Teo

TeliaSonera has acquired more shares in Lithuanian telco Teo.

TeliaSonera has completed its acquisition of a further 7.87% stake in Teo from East Capital for €0.637 a share and has acquired a further 6.55% on the open market for the same price, taking its stake in the company to 82.71%.

The Swedish-Finnish telco said that it would continue to buy Teo’s shares in the open market in order to acquire the remaining outstanding shares in the company as part of its voluntary takeover plan.