Finnish state-owned fund Solidium is selling a stake in TeliaSonera representing approximately 4.0% of outstanding shares in the Sweden-based telecoms group, which would leave the fund with ownership of roughly 3.8% of outstanding shares. Reuters reports that Solidium has launched an accelerated bookbuilt offering of 175 million TeliaSonera shares, and will use proceeds of the equity offering to prepare for repayment of a maturing EUR600 million (USD679 million) exchangeable bond. Solidium has agreed not to dispose of any further TeliaSonera shares for a period of 90 days. TeliaSonera’s largest shareholder is the Swedish government.
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