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Mergers and Acquistions News

Categories: Telecoms

January 4th 2011, 16:28PM

Finnish telecoms firm DNA will merge its recently-acquired Welho division within its core company.

DNA Finland acquired Welho from Sanoma, a leading Nordic media group, last May, but it has operated as an independent part of the DNA Group since.

By acquiring Welho, DNA gained a 43 per cent share of the Finnish cable TV market and an 18 per cent share of fixed-network broadband services.

The firm provides telecoms services across Finland and has over 1,300,000 customers.

Under the terms of the merger, Welho and DNA will become a single operational entity. Together the two divisions employ 950 staff, with an estimated 40 expected to lose their jobs as a result of restructuring.

"In our opinion, only the genuine merger of separate organisations will create a basis for a shared corporate culture, while enabling us to capitalise on the strengths of both businesses on a broad scale," Riitta Tiuraniemi, president and chief executive officer of DNA, said.

"This organisational merger will be of particular importance to our broadband and television businesses, in which Welho's expertise will further reinforce our operations."

In October 2010, DNA became the first operator in Finland to work with Google in the business-to-business market.
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