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