Telia Company divests its interest in Moldcell
Fintur Holdings B.V. (Fintur), wholly-owned by Telia Company, has agreed to sell its 100 percent holding in Moldcell to CG Cell Technologies DAC, for a transaction price of USD 31.5 million.
“I’m happy to announce the completion of our journey to exit Eurasia allowing us to fully focus on the Nordic and Baltic markets. Moldcell is a well-run company with very dedicated and talented employees whom I want to thank for their outstanding contributions over the years. We wish them all the best in the company’s next phase,” says Christian Luiga, acting President and CEO of Telia Company.
Fintur Holdings B.V. (Fintur) divests its 100 percent holding in Moldcell S.A. (Moldcell) to CG Cell Technologies DAC, wholly-owned by CG Corp Global.
Prior to signing the agreement, Telia Company completed strict compliance and purchaser due diligence, also including use of external expertise.
Moldcell which represents approximately 0.7 percent of Telia Company’s service revenues and 0.6 percent of the Company’s total EBITDA is Moldova’s second largest telecom operator and has approximately 900,000 customers.
The transaction is not subject to any conditions to close, and Telia Company expects to complete the divestment during the first quarter of 2020.
Statements made in the press release relating to future status or circumstances, including future performance and other trend projections are forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to many factors, many of which are outside the control of Telia Company.
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