TeliaSonera (TLSNY.PK, 0H6X.L) has sold its 18.6 percent stake in Smart Mobile, Cambodia, and has reached a deal to further increase its ownership in Ncell, Nepal. The company said that the transaction underlines its strategy to be a strong majority owner in core holdings such as Ncell, and divest non-core minority interests such as Smart Mobile in Cambodia.
If and when the agreement on the increase of ownership is finally consummated, TeliaSonera would increase its ownership in Ncell by 12.43 percent for today's market value. The parties have agreed not to disclose financial terms of the deal, but the transactions would have no effect on TeliaSonera's profit and loss statement.
by RTT Staff Writer
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