Sweden's largest telecom operator TeliaSonera (TLSN.ST) is buying a 1.4 percent stake in music streaming service Spotify, hoping to grab a slice of the fast growth and speedy innovation typical of online companies. TeliaSonera said on Wednesday it will pay $115 million for a batch of newly issued shares in Spotify as it expands its partnership with the unlisted Stockholm-based business, that provides free on-demand music or an advertisement-free service for paying customers, valuing the company at about $8.2 billion. TeliaSonera Chief Executive Johan Dennelind said the investment was part of a strategy to solve what he called "the industry puzzle", seeking new ways to grow in the face of stalling growth for telecom operators in their core business.
Spotify raises $115 million in share sale source: http://finance.yahoo.com/news/teliasonera-buys-1-4-percent-070753366.html
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