STOCKHOLM, Sweden—Telia AB said its proposed merger with Finland’s Sonera Corp. is moving forward as planned, with the European Commission’s phase one review expected to be completed by mid-July. The company filed a merger notification with details of the planned business combination between Telia and Sonera with the EC.
Offering circulars, listing particulars and registration statements will be filed with the Finnish Financial Supervision, Stockholm Stock Exchange and the U.S. Securities and Exchange Commission. The SEC review process is expected to be completed at the end of June or early July, after which the offer to Sonera’s shareholders can begin. The offer period to Sonera shareholders is scheduled to end in the second half of August.
Telia and Sonera announced merger plans in March.
