TeliaSonera (TLSNY.PK,0H6X.L), who launched a voluntary takeover bid to acquire all the outstanding shares in TEO LT, continues to buy shares via. open market transactions. As of June 25, TeliaSonera currently holds 85.6 percent of TEO LT. The takeover bid was launched on June 5.
The acquisition price is 0.637 euros per share in cash and the total value of the takeover bid amounts to 76 million euros. The takeover bid is not conditional and has no minimum threshold of shares acquired.
The takeover bid period expires on Friday, June 29 at 3 P.M. local time. TeliaSonera would unconditionally accept all sell orders received by that date and the settlement would take place on July 4, 2012. Also, TeliaSonera would continue purchasing TEO LT shares in the open market at the same price of 0.637 euros per share until the very end of the offer period.
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