TeliaSonera Ups Stake in UCell

STOCKHOLM -- Regulatory News:

TeliaSonera increases its ownership in UCell from 74 percent to 94 percent by acquiring 20 percent of the shares in the jointly owned TeliaSonera Uzbek Telecom Holding B.V. from Takilant Limited. TeliaSonera will pay approximately SEK 1,550 million (USD 220 million) for the shares. TeliaSonera Uzbek Telecom Holding B.V. is a Dutch holding company owning 100 percent of UCell in Uzbekistan.

“This transaction underlines TeliaSonera’s strategy to increase ownership in core holdings. With a young and large population, relatively low mobile penetration and expanding economy, Uzbekistan continues to provide a valuable opportunity for growth. We are committed to continue investing in the future development of the telecommunication infrastructure and services in the country,” says Tero Kivisaari, President of business area Eurasia, TeliaSonera.

Telia Company