Nordic Business Report-November 14, 2005-Elisa completes tender offer for Saunalahti Group
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Finnish telecomms group Elisa Corporation said on Friday (11 November) that it had completed its public tender offer for the shares of the Finnish Internet and telecommunications services company Saunalahti Group Oyj. Shareholders representing in total approximately 97.4% of the shares issued by Saunalahti and the aggregate votes of the shares have, on the basis of final calculation, accepted the tender offer. Due to the completion of the tender offer, Elisa's proportion of votes would exceed some two-thirds on 14 November 2005. Therefore Elisa would make redemption offer for the remaining shares and share options. Furthermore, because Elisa's proportion of Saunalahti shares and aggregate votes would exceed some nine-tenths on 14 November, Elisa would begin redemption procedures on the remaining Saunalahti shares.
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