Sonera, the Finnish telecoms firm, turned to Dresdner Kleinwort Wasserstein for the second time this year to offload €565m ($511m) worth of Deutsche Telekom shares through a series of sales which started in July.

Sonera sold about 21.9 million shares in the German telecoms firm at an average price of €25.75 per share &quotthrough a series of small market transactions&quot. Deutsche Telekom and Sonera agreed to a programme of sales after Deutsche Telekom released the Finnish telecoms firm from the lock up of over 40% of the total Deutsche Telekom shares owned by Sonera.