The Finnish Council of state has confirmed that DNA’s purchase of the Welho cable business will have no effect on the telco’s licences.
Approval is still required from the Finnish Competition Authority, after which a decision will be taken by DNA and Welho’s owner, Sanoma Entertainment, on how the agreement will be put in place.
Agreement on the proposed sale of Finland’s largest cable operator took place in May. DNA intends launch a share issue that will enable Sanoma to become the second largest shareholder in DNA with a holding of 21%.
The deal gives Welho a pricetag of €200 million, giving Sanoma a capital gain of €185 million.