The Finnish state and Varma cooperate in buying Elisa shares The Finnish state and Varma Mutual Pension Insurance Company have, before trade negotiations conducted by Varma, agreed on buying Elisa Oyj shares from Novator Oy. The shares acquired amount to a bit over 10% of Elisa shares, and the sale price was EUR 11.20 / share. Before transferring the shares, Novator financiers' approval will be required. Varma Mutual Pension Insurance Company closed the deal and will be the owner of the shares. Varma has the right to oblige the Finnish state to redeem at least half of the shares at today's purchase price, and use this right in its own discretion after the Finnish state has made the necessary financial decisions. Minister Jyri Häkämies emphasises that for the Finnish state, Elisa is an important contract party as well as an essential telecommunications company for the national security of supply. Stabilising its ownership base fits very well in the Finnish state's role as a so-called anchor owner. It was therefore important that Novator shares went to a non-speculative owner. Elisa share closing price was EUR 11.41 / share on Friday, 10 October. Further information: Minister Jyri Häkämies (due to business trip please call secretary, tel. +358 9 1608 8103) and Pekka Timonen, Director General, tel +358 9 1602 3001 or +358 50 582 2284)