Telia deal to sell Tcell stake expires, mulls new options

News Wireless Tajikistan 3 APR 2017
Telia deal to sell Tcell stake expires, mulls new options

Telia Company said its agreement with the Aga Khan Fund for Economic Development (AKFED) for the sale of Telia’s 60 percent stake in Central Asian Telecommunications Development, which controls Indigo Tajikistan (Tcell), is no longer valid. The sale had been announced in September 2016. The agreement has expired because the Anti-Monopoly Service in Tajikistan did not reply by the deadline.

Telia's senior vice president of Eurasia, Emil Nilsson, said the company had taken every relevant action to try to close the deal. It is now assessing alternative ownership solutions for Tcell. The Tadjik operations are reported as discontinued operations and the book value of Telia Company's interests has been adjusted to zero. In the September 2016 deal, the agreed price for Telia Company's interest was approximately USD 13 million in equity value.

Telia Company maintains its ambition to leave Eurasia gradually and focus on the Nordic and Baltic region within the framework of its New Generation Telco strategy.

Categories:

Mobile

Companies:

Tcell

Countries:

Tajikistan

Tags:

Shareholders & subsidiaries, Regulations, M&A buyouts & divestments

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