World VoIP NewsSanoma to sell Welho to DNASanoma to sell Welho to DNA

Sanoma to sell Welho to DNA

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Reuters reports that Nordic media group Sanoma is to sell its Welho cable and broadband unit to DNA Finland for EUR200 million (USD245 million).
Sanoma said it plans to use the money to buy a 21% stake in DNA/Welho, making it the second largest shareholder in the newly enlarged company.

The deal is consistent with Sanoma’s plan to streamline its business portfolio, and gives DNA the opportunity to compete with Elisa in the large Helsinki-area cable market. Regulatory approval for the transaction is expected to be granted later in the summer.

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