TeliaSonera Wont Rush to Sell Spanish Subsdiary
Published on: 18th Nov 2012
Note -- this news article is more than a year old.
By: Ian Mansfield
Although Sweden's TeliaSonera has put its Spanish subsidiary up for sale the company is in no hurry to sell it TeliaSonera's CEO Lars Nyberg has said.
Yoigo is the smallest mobile network in the country, with a 5.6% market share and is majority owned by Teliasonera, who put it up for sale in September.
"I don't want to sell too cheap, so let's see if we can reach a position in which we have a buyer and a seller," Nyberg told Bloomberg News in an interview.
"Spain is a difficult market and the economy is a real problem, but actually that has helped Yoigo," Nyberg said. "People are more careful with money and so we get more customers. I think this is the right time for this provided we get the right price."
Teliasonera owns 76.56% of the Spanish mobile network. According to our records, ACS, a construction and services group, has a 17 percent stake, FCC a 3.4 percent stake and Telvent a 3 percent stake.
Yoigo was awarded the country's fourth mobile license in 2000 during the height of the 3G licenses bubble. Known at the time as Xfera the company struggled to launch its network and after several shareholders sold their stakes to Teliasonera, the network launched in June 2006.
On the web: Bloomberg News