TeliaSonera has large cash reserves for acquisitions
TeliaSonera, the Nordic telecom company, has plenty of cash for acquisitions but may have a hard time selecting a target, Taloussanomat reported.
The Finnish-language piece wrote, citing an analyst named Mikko Ervasti from Evli bank who said the group has plenty of cash for acquisitions but the atmosphere in the company’s area of interest in Central Asia has worsened due to previous problems the company had in Uzbekistan.
The item cited a report from Bloomberg which in turn had interviewed the company’s Chief Financial Officer Christian Luiga who said the company could invest in acquisitions.
TeliaSonera had cash reserves of EUR 3.6bn in December – an amount larger than ever before, the report said.
Source Taloussanomat