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Raidla Ellex Represents Telia Company in Dispute Over Acquisition of Shares in Eesti Telekom

Raidla Ellex Represents Telia Company in Dispute Over Acquisition of Shares in Eesti Telekom

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Raidla Ellex represented the leading Estonian telecommunication company Telia Company in bringing a case involving its acquisition of shares of Eesti Telekom to a conclusion.

Two lower courts had ordered Telia Company to pay EUR 951,835 to the minority shareholders of Eesti Telekom (formerly known as Telia Sonera) who brought the case demanding compensation for having to sell their shares in a distressed situation, but -- according to a Raidla Ellex press release, citing the Aripaev financial newspaper –Kristjan Hanni, Partner at Kawe Kapital (one of Eesti Telekom's minority shareholders), had requested an amount five times that much through the Supreme Court. According to Raidla Ellex, "the Supreme Court refused to hear the case and the proceeding is terminated."

The Supreme Court refused to hear the supplemental appeal of the minority shareholders.

Telia was represented in the proceeding by Raidla Ellex Partner Toomas Vaher and Associate Martin Maesalu.