Swedish telecommunications firm TeliaSonera (TLSNY.PK,0H6X.L) said that it discontinued sale process of Spanish unit Yoigo and has decided to continue developing it.
"Yoigo has great potential for further development, but as its market strategy does not quite match our other operations, we have been prepared to divest it if we were offered a price which fully reflects its future potential. As this requirement has not been met, we have discontinued the sales process and look forward to continue developing the company," said Per-Arne Blomquist, TeliaSonera CEO.
During 2012, Yoigo's net sales grew 12.5 percent in local currency to the equivalent of 8.382 billion swedish kronor. The EBITDA increased 49.3 percent to 627 million kronor.
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