Is TeliaSonera Set For A Takeover?

Sweden’s Biggest telecom operator TeliaSonera is rumoured to be the subject of a takeover by France Telecom, which trades under the orange brand.

Both companies had no immediate comment on the story, carried in France’s Le Figaro on Wednesday.

The paper said a deal could only be concluded if there was agreement between the various states – France has 27.3 percent of France Telecom while Sweden owns 37.3 percent in Telia and Finland 13.7 percent.

TeliaSonera was formed from merger of the incumbent Swedish and Finnish operators in 2002.

TeliaSonera has about 115 million clients and had turnover of 96.344 billion Swedish crowns in 2007.

It employed 31,292 staff at end 2007 and said in February it planned to cut 2,900 jobs to save five billion crowns.

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