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| FCC to retain stake in Xfera FCC, a titan in the Spanish construction industry, and Telia-Sonera, a leading telecommunications group in the Nordic and Baltic regions, have reached an agreement whereby FCC will retain 3.44% of Xfera, which holds a UMTS telephony licence. FCC is participating, with all the other shareholders, in the reorganisation of Xfera's capital, which will allow Telia-Sonera to control 76.56% of the stock. The reduction in FCC's stake, from its current 7.755%, is proportional to that of the other shareholders that are continuing in the project. The operation will provide FCC with 5.4 million euro in revenues and release 55% of the guarantees and collateral it had provided. write your comments about the article :: © 2006 Construction News :: home page |