Telia Company Sells Azercell Stake For EUR222 Million
March 05 2018 - 6:57AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Nordic telecommunications operator Telia Company AB
(TELIA.SK) said Monday that Fintur Holdings, jointly owned by Telia
and Turkcell Musteri Hizmetleri (TKC), has agreed to sell its
entire 51.3% holding in Azercell to Azerbaijan International
Telecom LLC for 222 million euros ($273 million).
Telia has been divesting or liquidating its assets in Eurasia as
it positions itself to focus on core Nordic and Baltic regions.
Telia Company owns 58.55% of Fintur while Turkcell holds
41.45%.
Monday's sale to Azintelecom, a company wholly owned by the
Republic of Azerbaijan, is not subject to any conditions, such as
regulatory or competition approvals, and has been completed.
"It is satisfying that we are able to announce a joint agreement
with Turkcell to sell Azercell in Azerbaijan," said Telia Company
Chief Executive Johan Dennelind.
"This is the fourth divestment in our effort to, over time,
leave Eurasia and focus on the Nordic and Baltic regions within the
framework of our New Generation Telco strategy."
Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
March 05, 2018 06:42 ET (11:42 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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