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TeliaSonera draws a line: assets in Uzbekistan to be put up for sale

The Swedish telecommunications company TeliaSonera will write off 7.2 billion Swedish kronor (about $ 843 million ) in the fourth quarter of 2015 due to the cessation of work in Denmark and Uzbekistan, the company said. 

The annual report for the last year, which the company will release by January 29, 2016 , will say that the activities in the region, "Eurasia" will be terminated and the assets will be put up for sale .

In this regard, the company recounted its assets in the last quarter of 2015. So, 5.3 billion Swedish crowns ($ 620.5 million) relating to the activities in Uzbekistan, and 1.9 billion kronor ($ 222 million) relating to the work in Denmark will be wriiten off, according to the report. The depreciation in the value of assets of TeliaSonera in Denmark is linked to the decision to withdraw from the joint venture with Norway's Telenor. 

Earlier it was reported that TeliaSonera is planning to first reduce its presence in the region, "Eurasia" (Kazakhstan, Uzbekistan, Azerbaijan, Georgia, Moldova and Tajikistan and Nepal), and then withdraw from the region completely.

"We are on the way of forming a new TeliaSonera, and reducing our presence in Eurasia continues," said Johan Dennelinda, the President and CEO of TeliaSonera. An important step was the sale of the share of the operator Ncell in Nepal, he said. The company announced the deal in December 2015 : the Asian telecommunications holding Axiata paid $ 1.03 billion for 60% of stocks.

TeliaSonera Corporation stratifies its presence in the following large blocks : the region "Sweden", the region "Eurasia" , the region "Europe" and "other”. The new strategy of the company is to concentrate on the development of the region "Europe" and the native Swedish market . 

Since June 2008, the operator provides mobile services in Uzbekistan under the brand name Ucell.

 

 

 

 

 

 

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