Stofa sold to private equity firm

TeliaSonera is to sell its Danish subsidiary Stofa to private equity firm Ratos for DKK1.1bn (€147.6m) on a cash and debt-free basis.

TeliaSonera acquired Stofa, which offers broadband, telephony and TV service, in 1995. Since then, it has operated as an independent subsidiary of the TeliaSonera Group.

The agreement is subject to approval by the relevant competition authorities and TeliaSonera’s board and is expected to be finalised in the third quarter of 2010.