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Telia sells Tajikistan business for $39m 

Sweden-based telco strikes deal with minority Tcell shareholder as Eurasia exit rumbles on.
Telia Company on Wednesday agreed to sell its Tajikistan operation Tcell to its local partner, as part of its ongoing plan to exit Eurasia.
The Aga Khan Fund for Economic Development (AKFED), which holds 40% of Tcell, has agreed to pay Telia US$39 million (€34.7 million) for Telia's 60% stake in the company.
The transaction is subject to regulatory approvals in Tajikistan and is expected to close by the end of 2016.
"AKFED has been a significant shareholder in Tcell since inception, and I am convinced that they will be able to further develop the company," said Telia CEO Johan Dennelind, in a statement.
"The divestments of our holding in Tcell is in line with our ambition to reduce our presence in Eurasia and increase our focus on our operations in the Nordics and Baltics," he added.
Indeed, in September 2015, Sweden-based Telia announced plans to withdraw from the region altogether after some of its operations there became embroiled in high-profile corruption scandals.
In addition to Tajikistan, Telia's Eurasia business includes operations in Kazakhstan, Azerbaijan, Georgia, Moldova, and Uzbekistan; partner Turkcell has submitted a binding bid for the first four of those markets. Telia completed the sale of its Nepalese arm Ncell to Malaysia's Axiata in April.

Source: Total Telecom





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