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- Stock Exchange Release
- 20.12.2007 16:00 CET
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COMPETITION AUTHORITY APPROVES THE SALE OF YIT'S NETWORK SERVICES BUSINESS UNIT TO RELACOM
DECEMBER 20, 2007 at 17:00 CORPORATE RELEASE COMPANY ANNOUNCEMENT
COMPETITION AUTHORITY APPROVES THE SALE OF YIT'S NETWORK SERVICES BUSINESS UNIT TO RELACOM
YIT Corporation sold the Network Services business unit to Relacom Finland Oy with a transaction agreement signed on November 20, 2007. The transaction had to be approved by the Competition Authority before coming into force. The Finnish Competition Authority approved the acquisition on December 18, 2007. The deal will be consummated and the transaction price paid on December 31, 2007.
The Network Services business unit was a part of YIT's Industrial and Network Services business segment. As of January 1, 2008 the name of the business segment will be Industrial Services.
YIT CORPORATION
Juha Kostiainen Vice President, Corporate Communications and Business Development
For additional information, contact: Pekka Frantti, President, YIT Industrial and Network Services Ltd, tel. +358 50 390 0932 Sakari Toikkanen, Executive Vice President, YIT Corporation, tel. +358 20 433 2336 Petra Thorén, Vice President, Investor Relations, YIT Corporation, tel. +358 20 433 2635, +358 40 764 5462
Distribution: OMX Nordic Exchange Helsinki, principal media, www.yitgroup.com