By Dominic Chopping
STOCKHOLM--Nordic telecommunications operator Telia Company AB said Friday that its Fintur Holdings subsidiary has agreed to sell its 100% holding in Moldovan mobile network operator Moldcell for $31.5 million.
"I am happy to announce the completion of our journey to exit Eurasia, allowing us to fully focus on the Nordic and Baltic markets," said Telia's acting Chief Executive Christian Luiga.
The sale of Moldcell to a unit of Nepalese conglomerate CG Corp Global isn't subject to any conditions and Telia expects to complete the sale during the first quarter of 2020.
Moldcell represents approximately 0.7% of Telia's service revenues and 0.6% of the company's total Ebitda.
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(END) Dow Jones Newswires
February 14, 2020 04:44 ET (09:44 GMT)
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