A fight for the Finnish

Finland’s Elisa exemplifies a well-managed, small country telecom operator. During the past four years, it has slashed its workforce in half, caught up with previous market leader TeliaSonera in mobile subscriptions and surpassed it in broadband customers. What should it do next: give shareholders cash, expand abroad, or perhaps even sell the company? How to resolve that strategic dilemma has turned into one of Finland’s ugliest corporate battles in memory. Icelandic investor Novato...