|Bid||3.8220 x 499200|
|Ask||3.8830 x 497500|
|Day's Range||3.8150 - 3.8150|
|52 Week Range||3.6800 - 4.2370|
|Beta (3Y Monthly)||0.28|
|PE Ratio (TTM)||29.35|
|Forward Dividend & Yield||0.23 (5.97%)|
|1y Target Est||N/A|
Swedish telecoms operator Telia's $957 million (735.4 million pounds) bid for Bonnier Broadcasting may stymie rivals in Sweden and Finland and push up prices, EU antitrust regulators said on Friday as they opened a full-scale investigation into the deal. Telia, which unveiled the deal in July last year, is following in the footsteps of other telecoms providers which have snapped up media companies to try to compete with big internet players such as Netflix and Amazon. Bonnier's brands include Sweden's biggest commercial broadcaster TV4, streaming service C More and Finnish MTV.
Nordic telecoms operator Telia's close to $1 billion bid for Bonnier Broadcasting faces a full-scale EU antitrust investigation after failing to address competition concerns, two sources familiar with the matter said on Thursday. Telia announced the deal, worth 9.2 billion Swedish crowns ($954 million), in July last year as the company looks to expand its media business as telecoms groups spend heavily to capitalise on changing television viewing habits. Owned by a prominent Swedish family, Bonnier's brands include Sweden's biggest commercial broadcaster, TV4, and streaming service C More and Finnish MTV.
Sweden's parliament on Wednesday called on the government to look into how it could divest its $7.5 billion stake in telecoms firm Telia Company while protecting sensitive infrastructure owned by the firm from cyber breaches. The country's minority, center-left government has opposed a sale of the stake of 37 percent on national security concerns. Fears have grown that telecoms infrastructure can be used as a means of eavesdropping on companies, individuals and governments and Sweden said last month it would tighten network security requirements ahead of the roll-out of 5G infrastructure.
The United States has indicted the daughter of the late president of Uzbekistan on corruption charges for allegedly using her official position to solicit more than $865 million in bribes from three telecommunications companies, the Justice Department said on Thursday. Gulnara Karimova, working with telecoms executive Bekhzod Akhmedov, allegedly asked for bribes from Russia's MTS and VimpelCom Limited (now called VEON Ltd and based in Amsterdam), and Sweden's Telia Company AB , between around 2001 and 2012 in exchange for using her influence with the Uzbek telecoms regulator to ensure the three were awarded licenses to operate in Uzbekistan. Karimova, a former Uzbek government official who has not been seen in public for several years, laundered the money through the U.S. financial system, the Justice Department alleged.
COPENHAGEN, Denmark (AP) — Three former executives of telecom company Telia were acquitted Friday of paying bribes in Uzbekistan, with the Swedish court citing lack of evidence.
European shares on Friday hit their highest level in nearly two months as positive earnings, hopes of accommodative U.S. monetary policies and higher oil and metal prices help fuel a global rally. The pan-European STOXX 600 index ended the day up 0.6 percent near two-month highs, scored a fourth straight week of gain and was on course for its best month since October 2015. Traders cited a Wall Street Journal report which said Federal Reserve officials were considering maintaining a larger portfolio of Treasury securities than earlier expected as a reason for better risk sentiment.
European shares on Friday hit their highest level in nearly two months as investors flocked to technology stocks after positive U.S. earnings overnight, while news of slowing revenue growth from Vodafone weighed on telecoms. Xilinx Inc and Lam Research Corp reported quarterly results that beat analyst expectations, while Texas Instruments Inc posted better-than-expected profits. Telecoms were the only sector in the red after disappointing results from Vodafone and Nordic telecom group Telia.
Shares of Finnish telecommunications company Nokia NOKIA-FI have rallied nearly 30 percent in 2018, and that's largely thanks to two letters: 5G. The stock still trades well below its sky-high levels during the dotcom boom, when Nokia was the world's top mobile phone seller. The company's efforts have helped put Finland on the map in the worldwide race to develop and implement so-called fifth generation wireless technology.
Nordic telecoms operator Telia said on Wednesday it had sold its stake in Uzbekistan's Ucell for $215 million on a debt-free basis, as part of its strategy to exit its Eurasian businesses. Telia announced in 2015 that it would retreat from Central Asian markets and instead refocus on growing its core Nordic operations after being hit for years by investigations into alleged corruption linked to local partners and problems accessing cash in distant countries. After this deal, Telia has businesses in Kazakhstan and Moldova left to sell to complete its exit.
Telia Company (TELIA.ST) expects reforms in Sweden to take a year longer than planned, the Nordic telecoms company warned on Friday, sending its shares lower despite beating quarterly profit forecasts and raising its outlook. "The real significant benefits are to come in 2020 rather than as expected in 2019," Chief Executive Johan Dennelind said regarding reforms in Sweden, a market which accounts for half of its core earnings and nearly half of its revenue.
Telia's plan to buy Bonnier Broadcasting could prompt the Swedish government to sell its 37 percent stake in the telecoms firm to limit state influence over local media, particularly if the centre-right bloc wins Sunday's general election. The $1 billion deal, announced in July, is politically sensitive because the government already controls Sweden's public service television network SVT, while Bonnier's TV4 is the Scandinavian country's biggest commercial channel. Apart from selling its stake, currently worth about 64 billion Swedish crowns ($7 billion), Stockholm could also look at breaking up Telia, the Nordic region's biggest telecoms company, to limit the state's role in the media.