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Danish Telia buys a piece of Spotify in 760m Kroner

Danish Telia buys a piece of Spotify in 760m Kroner

COPENHAGEN: The Swedish-Finnish telecommunication company TeliaSonera has purchased a 1.4 percent stake in Spotify. The deal will cost 760 million kroner. It is not clear whether new shares were issued, or whether the shares were purchased from existing Spotify shareholders.

The acquisition follows more than five years of successful partnerships between the companies.