HELSINKI, June 12 Private equity firm 3i (III.L)
said on Tuesday it had agreed to buy Finnish electricity and
telecommunications network maintenance firm Eltel from Industri
Kapital, TeliaSonera TLSN.ST TLS1V.HE and Eltel management.
The value of the deal was not disclosed and needs regulatory
approval, the parties said in separate statements.
At the end of April, Industri Kapital partner Michael
Rosenlew told Finnish business magazine Talouselama the company
planned to sell its 65 percent Eltel stake before the middle of
Industri Kapital bought Eltel from Finnish venture capital
firm CapMan CPMBV.HE in 2004 for 190 million euros.
Eltel had 2006 sales of 756 million euros ($1 billion).