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Nordic telco Telia says agreement to sell Tcell no longer valid
April 3, 2017 / 6:30 AM / 8 months ago

Nordic telco Telia says agreement to sell Tcell no longer valid

STOCKHOLM, April 3 (Reuters) - Nordic telecom operator Telia Company said on Monday the agreement from September to sell its stake in Tajik operator Tcell was no longer valid as authorities in Tajikistan did not reply in time.

“We are now assessing alternative ownership solutions for Tcell,” said Emil Nilsson, head of Telia’s region Eurasia, in a statement.

Telia’s Tajik operations are reported as discontinued operations and the book value of Telia’s interests has been adjusted to zero. The agreed price announced in September was around $13 million in equity value.

Telia said in 2015 it would gradually abandon its Central Asian markets, hit by years of investigations into alleged corruption linked to local partners and problems accessing cash in distant countries.

Reporting by Olof Swahnberg; Editing by Daniel Dickson

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