3i buys stake in Eltel Networks from capital fundPrivate equity group 3i has signed an agreement with the Industri Kapital 2000 Fund to buy telecommunications networks designer Eltel Networks. 3i has also bought a stake in Eltel from Swedish communications company Telefos for an undisclosed amount. The transaction is subject to competition authorities’ approvals. In 2006, Eltel Networks’ turnover amounted to EUR 756 million. The group, with its 8,200 employees has operations across Europe, primarily in the Nordics, the Baltics and Poland, serving owners of telecommunications networks and electric utilities.
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