Telia’s scandalous deals in Uzbekistan could be reaching a conclusion. The holdings in the operator Ucell are now being sold. CEO Johan Dennelind is pleased the deal has been concluded.
The sale generates USD 215 million, around SEK 2 billion. Compared to Telia’s valuation, the price is around SEK 400 million better than expected. However, the final bill will be billions of kronor, in addition to all the negative publicity.
Telia’s operations in Kazakhstan and Moldova remain to be sold. With those sales, Telia says it has carried out all actions required by the US Department of Justice in the agreement made around a year ago.
The Swedish legal process continues against several of the former managers, including ex-CEO Lars Nyberg who is accused of being an accessory to bribery.
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