TeliaSonera to increase ownership in Ncell by 12.43%

TeliaSonera has entered into an agreement with Ncell, Nepal in order to further increase its ownership in the company. TeliaSonera would increase its ownership in Ncell by 12.43 per cent.

As part of this restructuring process in Business Area Eurasia, TeliaSonera has sold its 18.6 percent stake in Smart Mobile, Cambodia. The transaction underlines TeliaSonera's 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.

TeliaSonera made the initial investment in Nepal and Cambodia in September 2008. In 2010, TeliaSonera increased its ownership in Ncell to the present indirect ownership level of 60.4 percent. At the same time, TeliaSonera participated in an in-market consolidation in the Cambodian market which reduced its ownership in Smart Mobile to 18.6 percent, said a release.