Agreement for sale of Tcell no longer valid
- 2017-04-03 06:00 UTC
Telia Company’s agreement with the Aga Khan Fund for Economic Development (AKFED) for the sale of Telia Company’s 60 percent holding in Central Asian Telecommunications Development B.V., which controls CJSC “Indigo Tajikistan” (Tcell) which was announced in September 2016, is no longer valid. The agreement has expired since The Anti-Monopoly Service in Tajikistan did not reply by the stipulated deadline between Telia Company and AKFED.
“We have taken all relevant actions in trying to close the deal. The proposed buyer of our interest in Tcell, AKFED, is an established investor in the region with multiple companies in its current portfolio and a long history in Tcell. We are now assessing alternative ownership solutions for Tcell,” says Emil Nilsson, Senior Vice President, Head of Region Eurasia.
The Tadjik operations are reported as discontinued operations and the book value of Telia Company's interests has been adjusted to zero. In the agreement which was communicated in September 2016, the agreed price for Telia Company's interest was approximately USD 13 million in equity value.
Telia Company maintains its ambition to over time leave Region Eurasia and focus on the Nordic and Baltic region within the framework of the company’s New Generation Telco strategy.
For more information, please contact our press office +46 771 77 58 30, visit our Newsroom or follow us on Twitter @Teliacompany.
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