Telia-Sonera merger given the go-ahead

NEWS The $7.4bn merger between Swedish telco Telia and Finish telco Sonera has been approved by the European Commission, on the condition Telia complies with certain conditions. In order to complete the deal with Sonera, Telia must sell its mobile retail chain operations, its dealership chain and its wireless local area network business in Finland, plus it must provide a national roaming contract for buyers of the two company's products, the EC said. Telia and Sonera's new business also has to provide Swedish and Finish operators with access to its regulated wholesale fixed and mobile network products. The joint company will have around 9.3 million wireless customers and 27,000 employees once the deal is complete. The merger first announced in March this year is the first venture between two European previously government backed companies.