REG-TeliaSonera AB Telia Company divests its stake in Tajik operator Tcell <Origin Href="QuoteRef">TELIA.ST</Origin>

Telia ABAnnouncement

07/09/2016 08:15

      Telia Company divests its stake in Tajik operator Tcell    
    
      Telia Company (OSE:TEL)(STO:TELIA)(HEX:TLS1V)(LSE:TEE)(Nasdaq:TLSN) has       agreed to sell its 60 percent holding in Central Asian       Telecommunications Development B.V., which controls CJSC Indigo       Tajikistan (Tcell), to the Aga Khan Fund for Economic Development       (AKFED). AKFED is currently the minority owner in Central Asian       Telecommunications Development B.V. with a 40 percent holding. The       transaction is expected to close by the end of the year and is subject       to regulatory approvals in Tajikistan.    
      The divestments of our holding in Tcell is in line with our ambition to       reduce our presence in Eurasia and increase focus on our operations in       the Nordics and Baltics. AKFED has been a significant shareholder in       Tcell since inception, and I am convinced that they will be able to       further develop the company, says Johan Dennelind, Telia Companys       President and CEO.    
      The transaction price for Tcell is based on an enterprise value of USD       66 million, of which Telia Companys 60 percent share corresponds to USD       39 million. Based on current FX-rates, the agreed price implies an       EV/EBITDA multiple of approximately 4.0x based on Tcells 2015 results.       The transaction will have limited result and net debt impact.    
      Telia Company has together with external risk consultants conducted due       diligence and background checks of the parties in this transaction.    
      About AKFED    
      The Aga Khan Fund for Economic Development (AKFED) is part of the Aga       Khan Development Network (AKDN) and works in partnership with       international organizations and governments to stimulate the private       sectors of developing economies, with the aim of generating capital for       investment in sustainable development initiatives. AKFED is an       established investor in the region with multiple companies in its       current portfolio.    
      Were Telia Company, the New Generation Telco. Our 21,000 talented       colleagues serve millions of customers every day in one of the worlds       most connected regions. With a strong connectivity base, were the hub       in the digital ecosystem, empowering people, companies and societies to       stay in touch with everything that matters 24/7/365 - on their terms.       Headquartered in Stockholm, the heart of innovation and technology,       were set to change the industry and bring the world even closer for our       customers. Read more at http://www.teliacompany.com/.    
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