TeliaSonera sells Zed unit

TeliaSonera has signed an agreement in principle to sell its wholly-owned subsidiary Zed for EUR30 million to Spanish interactive media group Wisdom Entertainment. The sale is currently awaiting approval from the German Competition Authority, but is expected to be completed within 2-4 weeks. Zed resells digital content to mobile phone users in Asia. Its disposal is part of TeliaSonera’s strategy to focus on its core business.