Sonera (SNRA) : The next Nokia ? Message Board

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Technology Stocks : Sonera (SNRA) : The next Nokia ?

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To: Secret_Agent_Man who wrote (80)	8/16/2000 9:36:03 AM
From: Joar	of 101

Telefónica another potential buyer for Sonera Spanish telco Telefónica has announced its intention to enter the race to buy Finnish counterpart Sonera. According Telefónica, its mobile division Telefónica Moviles has approached Sonera about the potential acquisition and requested a valuation of the company; analysts predict Sonera to have a market capitalisation of approximately USD28 billion. It is believed that Telefónica’s announcement is prompted by its concern for the future of Group 3G, the consortium it has formed with Sonera to bid for a 3G licence in Germany. Sonera has confirmed however that it will not enter into any negotiations until after the completion of the German licensing process. Having pulled out of the UK auction earlier this year, Telefónica needs to be successful in Germany in order to safeguard its mobile future in Europe. The news of Telefónica’s interest in Sonera follows yesterdays press reports that UK mobile operator Orange had entered into talks with the Finnish operator. Speculation is also mounting that there may be a bid on the horizon from BT, although this has not been confirmed by the British operator. citpubs.com /Joar

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