Solidium gets €1bn from combo TeliaSonera sale

23 Mar 2012

Finland’s state-owned holding company Solidium on Tuesday turned to the tried-and-tested combined ABB and exchangeable bond formula to raise €1.05bn from a holding in TeliaSonera.

The structure — unused in recent years but replicated on Wednesday when South Africa’s Shoprite Holdings launched a $1bn primary ABO and convertible — allowed Solidium to tap two separate investor bases while sending a positive message about its large residual holding and minimising the size of the ...

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