Swedish telecoms operator Telia AB said today its board had accepted the Valentia consortium's offer for Eircom.
Telia said in a statement its 14 per cent stake in Eircom, based on the terms of the offer - euro 1.27 cash per Eircom share or euro 1.25 cash per Eircom share and a Valentia warrant - was worth about $338.5 million.
"This offer gives Telia a good opportunity to divest its stake in Eircom as a further step inTelia's strategy of focusing on core operations," the Swedish operator said.
Analysts said the sale will give Telia, the Nordic region's biggest telecoms operator, even more cash to fund an aggressive strategy for acqusitions in its home area.