History in brief
PHP Holding Oy was founded in 1906 under the name Lahden Keskinäinen Telefooniyhdistys. Later, it was called Lahden Keskinäinen Puhelinyhdistys, and since 1970 Päijät-Hämeen Puhelinyhdistys. It operated for over 90 years as a mutual association, with its mission being to provide affordable and high-quality telecommunications services, particularly to its owners.
On April 7, 1999, Päijät-Hämeen Puhelinyhdistys transferred its business operations to its subsidiary Päijät-Hämeen Puhelin Oyj, incorporated as a limited liability company. At the end of 1999, the association was transformed into Päijät-Hämeen Puhelinosuuskunta. The cooperative was later converted into a limited liability company, which was registered on July 16, 2001 under the name PHP Holding Oy.
Lahden Seudun Puhelin Oy was established on February 16, 2000 as the second shareholder of Päijät-Hämeen Puhelin Oyj, obtaining 2.5 percent ownership of the company and slightly over one-third of the voting power through a directed share issue.
The Board of Päijät-Hämeen Puhelin Oyj decided on February 5, 2007 to partake in an arrangement where the regional operations of six telephone companies and the nationwide operations of Finnet Oy (DNA Oy as of July 1, 2007) were planned to be merged. Both the extraordinary general meetings of PHP Holding Oy and Päijät-Hämeen Puhelin Oyj approved the implementation on June 26, 2007 and the business transfer took place on July 1, 2007.
The name Päijät-Hämeen Puhelin Oyj was transferred to the ownership of DNA Oy through a business transfer. Päijät-Hämeen Puhelin Oyj changed its name to PHP Liiketoiminta Oyj based on a decision by a general meeting.
The extraordinary general meeting of PHP Holding Oy held on September 21, 2011 decided on a directed share issue to Lahden Seudun Puhelin Oy. In the directed share issue, Lahden Seudun Puhelin Oy was offered the opportunity to subscribe to a maximum of 4,721 new K-series shares of PHP Holding Oy. Lahden Seudun Puhelin subscribed to the directed issue and paid for the shares it subscribed with contribution in kind, which consisted of 12 900 K-series shares of PHP Liiketoiminta Oyj. The directed issue was marked in the trade register on October 27, 2011. As a result of the directed issue, Lahden Seudun Puhelin Oy's ownership in PHP Liiketoiminta Oyj ceased, and PHP Liiketoiminta Oyj became a 100% owned subsidiary of PHP Holding Oy.
The ordinary general meeting of PHP Holding Oy on May 6, 2019 approved the sale of DNA Oyj shares owned by PHP Holding Oy to Telenor. After receiving the required regulatory approvals, the sale of the shares was completed on August 21, 2019.
On November 21, 2019 PHP Holding Oy and Finda Oy decided to merge their telecom and investment businesses into a jointly owned and managed company, Finda Telecoms Oy. The corporate arrangement was executed by merging PHP Liiketoiminta Oyj into Finda Telecoms Oy, a subsidiary owned by Finda. The merger was finalized on March 17, 2020. The balance sheet of the new company is approximately 1.3 billion euros and PHP Holding Oy holds about 18% ownership of the company.
PHP Foundation continues this valuable legacy by promoting future innovations and development.
