By Pia Heikkila, 15 August 2000 14:20
NEWS Telefonica is showing interest in buying Finnish Telecommunications giant Sonera. A report in the Financial Times said the Spanish telco has appointed US investment bank Schroder Salomon Smith Barney to advise it. Telefonica is not alone in showing interest in Sonera - other companies considering such a purchase include Deutsche Telekom, France Telecom and KPN. Although the Finnish company is significantly smaller than its European counterparts, it already owns a 3G licence in Spain. A buyout would give Sonera the boost it needs to push its proprietary technology for carrying out ecommerce transactions over mobile phones.
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