DNA decides against buyout

Karin Wasteson
16 July 2013

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Finnish mobile phone operator DNA has decided to hold off on a €1.3bn buyout, as "the market situation becomes clearer," according to a company statement.

DNA said its ownership structure will remain unchanged after owners received "several noteworthy proposals" for alternative arrangements, according to a statment by the company today.

Earlier this month it was reported that Apax Partners, Bain Capital, EQT and Providence were in takeover talks, and submitted final-round bids for the firm last week. It was believed a sale process, run by UBS, could generate €1.3bn. Several banks including UBS put together debt packages to fund the deal.

DNA has also explored the option of listing up to half of the comapny's shares on the Helsinki stock exchange, which would then allow owners to sell part of their stakes. DNA's market value is understood to be approximately €1.1bn.

Finda Group, which is the largest shareholder, owns close to 33% of DNA. Fellow regional co-owners are companies that were previously Finnish phone carriers.