Political Economy


Finnish government selling TeliaSonera stake to raise funds since domestic income slow

Tuesday, 13 August 2013
The Finnish government is likely to reduce its holdings in Telia Sonera and insurance group Sampo to free up capital to be used to contain the country's debt.

According to Reuters News agency, the Finnish government is to  trim its stakes in insurance and investment group Sampo and telecoms operator TeliaSonera to boost its coffers, a lawmaker and adviser to the finance minister,  Mikael Jungner said on Monday.telia

Finland is trying to rein in debt and preserve its triple-A status in the face of falling tax revenue.

In a draft budget for next year that was published last week the Ministry of Finance Government was called on to release € 490 million through sales of shareholdings.
According to Mikael Jungner the money will likely be taken from the holding in Sampo and TeliaSonera.

"It will likely come from the big ones in Solidium (the state investment arm), such as Sampo and Sonera," Jungner told Reuters on the sidelines of a conference with fellow SDP lawmakers in Lahti, Southern Finland..

TeliaSomera is largely owned by the Finnish and Swedish governements.
by Scancomark.com Team

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