By Kate Hanaghan, 28 August 2001 12:00
NEWS Investors in Finnish telco Sonera reacted warmly to the news that the company has sold its Deutsche Telekom shares. Sonera, which used to be Finland's state-owned telephone monopoly, announced at the weekend that it sold 21.9 million shares, raising E565m (£355m). In trading yesterday, the company's share price gained five per cent. Concerns about debt, following the purchase of 3G licences, have been weighing heavily on the minds of investors and flattening its share price. Investors in Deutsche Telekom also warmed to the news, adding more than three per cent to the company's share price yesterday. Today's share price activity was boosted by the news that the company will cut its own debt by E15bn (£9.4bn) by the end of 2002, by selling-off non-core activities.
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