TeliaSonera buys majority stake in NextGenTel

TeliaSonera has acquired an 82.3% holding in NextGenTel Holding ASA, the No. 2 broadband/xDSL provider in Norway, according to a Wireless News report

The report said TeliaSonera planned to broaden its offerings in Norway and was aiming to focus on mobile and Internet-based services in the home markets.

TeliaSonera AB, a telecom company in the Nordic and Baltic region, had reached an agreement with the main shareholders of NextGenTel to acquire 23,539,226 shares, corresponding to 82.3% of the shares in NextGenTel, the report said.

Following the acquisition, TeliaSonera would present a public offer to the remaining shareholders in NextGenTel in line with the rules in Norway for mandatory offers, the report said.

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