Elisa buys full holding in Starman Estonia
Elisa has bought Polaris Invest and Com Holding - the full ownership of the Estonian telecommunications company Starman - for €151m
Elisa, the Finnish telco, has acquired a
100% holding in Starman for €151m, Elisa told
the stock exchange this is part of the company's strategy to
strengthen its position in the domestic
The transaction is subject to the approval of Estonian competition and
will be closed during the first quarter
Kuivallik on Tuesday acquired a 63% holding in Starman Estonia from
the investment company East Capital Explorer. It previously owned 11% of the company. The rest of Starman was owned by Com Holding which is owned by the heirs ofPeeter Kern.
Starman's Lithuanian telecommunications company Cgates
will still be owned by Polais and Com Holding. Until the Estonian and Lithuanian
units have been separated, Starman group
will continue working with the present management and new owners.
"We have a competent and motivated team in Lithuania who will start
carrying out the new business plan in cooperation with Estonian owners. I am
also very glad that Starman's Estonian business will get a strong
development push from the Nordic countries' leading telecommunications
company," Kuivallik said in a press release.