We advised Telenor on its acquisition of a majority stake in DNA Plc, a leading Finnish telecom operator, and subsequent mandatory tender offer for all remaining shares in DNA. In Finland, both parties are active in the pay-TV business.
Our competition work in the matter included local counselling related to the merger control filing to the European Commission. The Commission cleared the deal in Phase I without any conditions on 15 July 2019. We also answered for other regulatory filings, such as applying for the permission for this foreign acquisition from the Ministry of Economic Affairs and Employment and notifications to the Government regarding change of control in the holder of several network licences.
DNA, based in Helsinki, Finland, is an integrated fixed and mobile telecom operator with a solid market position in the fastest growing mobile market in Europe. The company is the third largest mobile operator in Finland, with 2.9 million subscribers. In 2018, DNA reported revenues of almost EUR 1 billion.
Telenor Group, listed at the Oslo Stock Exchange, is a global telecom operator, with 174 million customers and strong positions in eight markets across Scandinavia and Asia, leveraging on more than 160 years of history. In 2018, the company reported revenues of NOK 110 billion.
Transaction Powerhouse – Acquisition of DNA Plc