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Technology Stocks : Sonera (SNRA) : The next Nokia ?
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To: AmericanVoter who wrote ()4/19/2000 7:35:00 AM
From: Joar   of 101
 
The Finnish Competition Authority refers the Digita deal between Sonera and the Finnish Broadcasting Company to the Competition Council:

SONERA: DIGITAL BROADCASTING NETWORKS DO NOT COMPETE WITH LOCAL NETWORKS

The Finnish Competition Authority (FCA) has decided to refer the agreement signed by Sonera Corporation and the Finnish Broadcasting Company (YLE) on November 8, 1999 to the Competition Council. According to the deal, YLE sells 34% of the share capital of its subsidiary Digita Oy (YLE 100%) to Sonera. The FCA proposes to the Competition Council that the deal be blocked. According to the FCA, the deal would give Digita Oy a dominant market position in broadcasting services and strengthen Sonera's market position in local subscriber line and cable television networks.

Sonera considers that the commitments made by Sonera and YLE in relation to the purchase of the Digita shares are sufficient. According to Sonera, the acquisition will not have any impact on competition on the local markets, since local cable and telecommunications networks do not compete with Digita's national digital broadcasting network. Moreover, Digita Oy's customers do not include households but national DTV licensees conducting digital television business. Sonera's share of all cable TV households in Finland is about 15%, which corresponds to about 4.5% of all Finnish households.

The Competition Council must issue a decision in the matter within three months after the matter has come up before the Council. When publishing the deal on November 8, 1999, Sonera announced that before the deal goes through, it must receive final approval from the FCA.

Source: April 19, 2000
sonera.fi
Joar
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