Oct 12 The board of Finnish engineer Neles
is sticking with its recommendation for shareholders
to accept a takeover offer from Alfa Laval, saying it does not
have enough details on a rival merger proposal from Valmet to
make a comparison.
Valmet, the largest shareholder of valves maker
Neles, approached Neles in September with a merger proposal,
challenging a $2 billion bid from Swedish engineering group Alfa
Finnish national carrier Finnair plans to cut up to 1,000 jobs, or about 15% of its workforce, and seek further savings across its operations, joining airlines across the world in making cut backs to cope with the COVID-19 crisis.
HELSINKI Finland's biggest utility Fortum reported an 11% fall in its underlying second-quarter operating profit on Wednesday, dented by low power prices and the impact of the new coronavirus on its Russian business.
Nordic IT services provider TietoEVRY reported on Friday a rise in second-quarter underlying profit, helped by cost cuts following the takeover of EVRY business last year, and said it would pay a dividend.
July 24 Nordic IT services provider TietoEVRY
reported on Friday a rise in second-quarter
underlying profit, helped by cost cuts following the takeover of
EVRY business last year, and said it would pay a dividend.
Finnair plunged to a second-quarter loss as the coronavirus pandemic kept most flights grounded, and said it would make a similar loss this quarter, despite an increasing number of flights.
July 24 Struggling Finnish retailer Stockmann
swung to a second-quarter operating loss as the
coronavirus outbreak kept customers away from its department
stores, and said it was focused on reducing costs to stave off
Finnish engineering firm Valmet declined to say on Thursday whether it had further raised its stake in Neles as it reiterated its opposition to Alfa Laval's takeover bid for the valve maker.
Finnish biofuel producer and oil refiner Neste reported smaller-than-expected falls in second-quarter sales and profit on Thursday thanks to its renewables business, sending its shares up more than 14% to a record high.
* Shares jump over 14%
(Adds CEO comment, details, updates shares)