TeliaSonera has acquired stakes in two mobile operators, Nepalese mobile operator, Spice Nepal and Cambodia based Applifone - for a cash payment of approximately SEK 3.2 billion (US$484 million).
"One of our top priorities is to grow our business in Eurasia, where we have successfully grown and created value over the past ten years. We now take a further important step in executing our strategy to expand into new high-growth emerging markets, following our successful investments in Uzbekistan and Tajikistan. Nepal and Cambodia have a combined population of 43 million, low mobile penetration and growing economies. I am excited about this opportunity," says Lars Nyberg, President and CEO of TeliaSonera.
A holding company, " TeliaSonera Asia Holding" owns 100% of the Cambodian operator, Applifone and 80% of Spice Nepal. Under the terms of the deal, TeliaSonera is buying 51% of the holding company - which is currently owned by the Visor Group. The remaining 20% of Spice Nepal is held by the Raj Group, together with some non-resident Nepalis.
This transaction will result in TeliaSonera owning 51% of Applifone and 40.8% of Spice Nepal.
Spice Nepal launched its operation in September 2005 and is the second largest mobile operator in Nepal, with around 1.6 million subscriptions and an estimated market share of approximately 41 percent as of August 2008.
Applifone launched its operation in October 2007 and is the fourth largest mobile operator in Cambodia, with some 97,500 subscriptions and an estimated market share of approximately 3 percent as of August 2008. Mobile penetration in Cambodia, with a population of 14.6 million, is approximately 21 percent.
TeliaSonera is already present in several emerging markets, either directly or through its subsidiary Fintur Holdings, with majority holdings in major mobile operators in Kazakhstan, Azerbaijan, Uzbekistan, Tajikistan, Georgia and Moldova, and through associated companies in Russia, Turkey, Ukraine and Belarus as well as in Afghanistan, through a financial holding.
Visor Group is a Kazakhstan-based diversified investment and advisory firm established in 2001 with significant regional investment expertise and assets under management.
Posted to the site on 26th September 2008
Posted to: www.cellular-news.com/story/33839.php