Telia sells Moldcell for $31.5 million

Fintur Holdings,  wholly-owned by Telia Company, has agreed to sell its 100 percent stake in Moldcell, a telecom operator in Moldova, to CG Cell Technologies DAC, for a transaction price of $31.5 million.
“I’m announcing the completion of our journey to exit Eurasia allowing us to focus on the Nordic and Baltic markets,” said Christian Luiga, acting president and CEO of Telia Company. Telia expects to complete the divestment of Moldcell during the first quarter of 2020.

Moldcell, which represents approximately 0.7 percent of Telia Company’s service revenues and 0.6 percent of the company’s EBITDA, is Moldova’s second largest telecom operator with approximately 900,000 customers.