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Telia to sell Yoigo stake to MasMovil for EUR 479 mln

2016-06-21 09:56:00| Telecompaper Headlines

(Telecompaper) Swedish telecommunications group Telia has agreed to sell its 76.6 percent stake in Spanish mobile operator Yoigo to MasMovil for EUR 479 million. In a statement, Telia said the transaction price is based on an enterprise value of EUR 625 million for 100 percent of Yoigo. "The divestment of Yoigo is an important milestone in our ambition to increase focus on our operations in the Nordics and Baltics," said Telia CEO Johan Dennelind, adding that "I am happy that we have an agreement with MasMovil, which will be able to leverage a small but great and agile team into a combined unit, creating an even stronger challenger in the Spanish market." The deal is expected to close in the third quarter of 2016 subject to approval from Spanish competition authorities.

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Category:Telecommunications

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