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TeliaSonera reshuffles Asian stakes
10 April 2012
TeliaSonera sells its 18.6% share in Cambodia’s Smart Mobile and plans to increase share in Nepal’s Ncell
TeliaSonera has sold its 18.6% share in Cambodian operator Smart Mobile as part of its restructuring procedure in the region.
At the same time, the operator has agreed a deal to raise its indirect ownership in Nepalese operator Ncell by 12.43%. The operator has owned 60.4% of the Nepalese operator since 2010, but first invested in the company in 2008.
Tero Kivisaari, president of TeliaSonera’s Eurasia business area, said: “Ncell has become the number one mobile operator in Nepal, and today’s agreement gives us the possibility to further increase our ownership in this highly successful operation when local regulations allow for increased foreign ownership in Nepal. Our interest in Smart Mobile in the Cambodian market has for some time been considered non-core for TeliaSonera, and therefore we have decided to divest our interest in the company.”
The companies have not disclosed financial details of the deals. GTB
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