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November 24, 1997updated 01 Sep 2016 5:48pm


By CBR Staff Writer

The Finnish government says it wants to reduce its 100% stake in national telecommunications operator Telecom Finland, but still maintain a majority in the company. Included in the move, are plans to form a group including TT Tieto a data systems and services group in which the government holds a 27% stake. The government added that it would need domestic and international advisors to arrange the privatization, should the Finnish parliament allow the partial privatization to go ahead. The government is to be looking to privatize between 15 and 20% of Telecom Finland, raising revenues of between $382m-$764m and that a Bourse listing would start at the earliest in autumn 1998, according to Finnish business daily Taloussanomat.

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