TeliaSonera increases its ownership in Ncell in Nepal

TeliaSonera increases its ownership in Ncell in Nepal

TeliaSonera increases 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
will pay approximately SEK 1,100 million (USD 160 million) for the
shares. 

With this transaction, TeliaSonera increases its indirect ownership in
Ncell in Nepal from 40.8 percent to 60.4 percent. TeliaSonera also
acquires a right to further increase its ownership in Ncell to 72.9
percent if certain conditions are met.
“This transaction underlines TeliaSonera's strategy to increase
ownership in core holdings, such as Ncell. With a young and large
population, relatively low mobile penetration and expanding economy,
Nepal continues to provide a valuable opportunity for growth for
TeliaSonera. 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.
At the same time TeliaSonera's subsidiary in Cambodia, Applifone (brand
name “Star-Cell”), will combine its operations with Latelz Co. Ltd. and
its brand Smart Mobile to become a stronger operator in the Cambodian
market.
Subject to final approval by Cambodian authorities, the new operator
will operate under the Smart Mobile brand and will become a strong
operator in the market with more than 850,000 mobile subscribers.
TeliaSonera Asia Holding B.V., will as a result of this transaction own
25 percent of the new company. 

“The Cambodian mobile market has been characterized by fierce
competition and high churn rates and a consolidation was inevitable. We
are therefore pleased to drive this development and thereby create a
stronger mobile operator in Cambodia,” says Tero Kivisaari, President of
business area Eurasia.

TeliaSonera AB discloses the information provided herein pursuant to the
Swedish Securities Markets Act and/or the Swedish Financial Instrument
Trading Act. The information was submitted for publication at 9.20 a.m.
CET on December 6, 2010.

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