Acquisitions and Divestitures

During 2010, TeliaSonera has made a number of acquisitions and divestitures.

  • On February 2, 2010, TeliaSonera increased its ownership in UCell (OOO Coscom) 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 paid approximately SEK 1,600 million (USD 220 million) for the shares in the first quarter of 2010. TeliaSonera Uzbek Telecom Holding B.V. is a Dutch holding company owning 100 percent of OOO Coscom in Uzbekistan.
  • On July 8, 2010, TeliaSonera signed an agreement on the sale of its Danish subsidiary Telia Stofa to Ratos, a listed private equity company with Nordic focus. The sales price was DKK 1.1 billion on a cash and debt free basis. Telia Stofa’s revenues in 2009 were DKK 1,024 million, EBITDA was DKK 166 million and operating income was DKK 92 million. Telia Stofa has approximately 500 employees. Telia Stofa was deconsolidated as of August 1, 2010 and TeliaSonera recognized a capital gain of SEK 830 million.
  • TeliaSonera divested its 9.44 percent holding in Digitel in the Philippines during the second and third quarter of 2010. The transaction value was SEK 140 million and resulted in a capital gain of SEK 76 million.
  • On December 8, 2010, TeliaSonera increased its ownership in TeliaSonera Asia Holding B.V. from 51 percent to 75.45 percent. TeliaSonera Asia Holding B.V. is a Dutch holding company that owns 80 percent in Ncell in Nepal and 100 percent in Applifone (brand name Star-Cell) in Cambodia. TeliaSonera paid SEK 1,105 million (USD 160 million) for the shares in the fourth quarter of 2010. TeliaSonera also acquired a right to further increase its ownership in Ncell to 72.9 percent if certain conditions are met. On December 20, Applifone combined its operations with Latelz Co. Ltd. (brand name Smart Mobile) to become a stronger operator in the Cambodian market. The new operator will operate under the Smart Mobile brand with more than 850,000 mobile subscribers. As a result of this transaction, TeliaSonera Asia Holding B.V. owns 25 percent of the new company. In the third quarter of 2010, TeliaSonera conducted a SEK 678 million write-down of the carrying value of its Cambodian operations.
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