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Government reduces stake in TeliaSonera

The Finnish government has reduced its stake in Nordic telco and pay TV operator TeliaSonera.

The government sold 89 million shares or 2.1% of the company, through its state investment company Solidium, to institutional investors for SEK45.20 (€5) per share. This means that Solidium’s stake in the company is now at 11.7%. The government has promised not to sell any further shares in the company for 90 days.

This comes as TeliaSonera ended 2011 with 1.2 million pay TV subscribers, up from 935,000 from the previous year. The company saw a 60% year-on-year increase in subscribers in Finland as well as growth in Sweden, where it now has an 11% market share.