ARC Associates ("ARC"), a specialist investment banking and advisory firm to the TMT, financial services and property sectors, advised Sonera, an international forerunner in mobile communications, on acquiring Ericsson Inc.'s 9% shareholding in Powertel, Inc, the fourth publicly traded U.S. GSM wireless operator, for $123 million.
This transaction follows Sonera's strategy of wanting to invest in a nation-wide US GSM network.
Sonera is an international leader in mobile communications, mobile-based services and applications who employs more than 11,200 people. By combining its expertise in mobile communications, the Internet and service provision, Sonera aims to develop into a global communications operator and provider of transaction and content services.
ARC Associates is a specialist investment banking and advisory firm to the telecommunications, media, technology, financial services and property sectors.
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John Allen, Chairman
ARC Associates
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