Sanoma Completes the Divestment of Welho
(Thomson Reuters ONE) -
Stock Exchange Release 30/6/2010 14:00
Sanoma announced the divestment of Welho business to DNA on 31 May 2010. The
necessary approvals by the authorities have now been received and the deal has
been completed. The Council of State ruled its decision on 23 June and the
competition authorities approved the deal today, 30 June. The cable TV operator
Welho business will be a part of the DNA telecommunications group and Sanoma
will become DNA's second largest owner with an ownership of 21% as of 1 July
2010.
The enterprise value of the Welho business is EUR 200 million. Sanoma will
record a non-recurring capital gain of approximately EUR 185 million. The
capital gain will improve Sanoma's earnings per share (EPS) by about EUR 1.14 in
2010.
Sanoma Corporation
Kim Ignatius
Chief Financial Officer
Group Communications, tel. +358 10 519 5062, communications(at)sanoma.com
Sanoma.com
Sanoma inspires, informs and connects. As a diversified media group, we bring
information, experiences, education and entertainment to millions of people
every day. We make sure that quality content and interesting products and
services are easily available and meet the demands of our readers, viewers and
listeners. We offer a challenging and interesting working environment for
20,000 people in over 20 countries throughout Europe. In 2009, the Group's net
sales totalled EUR 2.8 billion.
Welho is the largest cable TV operator in Finland and a significant broadband
service provider. More than 320,000 homes are connected to Welho's cable network
in the Helsinki region. Welho has over 140 digital TV channels in its offering,
including the largest HDTV service in Finland, 20 HD channels in total. In
2009, Welho's net sales amounted to EUR 67 million and it employed 205 people.
DNA Ltd is a Finnish telecommunications company providing high-quality,
state-of-the-art voice, data and mobile communications and TV services to
private customers, organisations and corporations. DNA Group's turnover was EUR
652 million and profit excluding nonrecurring items EUR 63 million in 2009. DNA
has around 2.6 million customers.
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Source: Sanoma Oyj via Thomson Reuters ONE
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Datum: 30.06.2010 - 13:00 Uhr
Sprache: Deutsch
News-ID 23248
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