TeliaSonera drops sale of Yoigo

2 Apr 2013

Sweden’s TeliaSonera has abandoned plans to sell Spanish mobile operator Yoigo after offers for the company fell short of expectations. ‘Yoigo has great potential for further development, but as its market strategy does not quite match our other operations, we have been prepared to divest it if we were offered a price which fully reflects its future potential. As this requirement has not been met, we have discontinued the sales process and look forward to continue developing the company,’ TeliaSonera’s CEO Per-Arne Blomquist said in a statement on the group’s website. Going forward, TeliaSonera plans to continue developing the Spanish operator, which was launched in 2006 and had signed up a total of 3.7 million subscribers by the end of 2012. As previously reported by CommsUpdate, TeliaSonera began preparations for the sale of its 76% stake in Yoigo in the second half of last year, following reports in July that the firm had hired Deutsche Bank to manage the divestment, as it seeks to exit non-core markets in favour of Nordic countries and central Asian markets.

Spain, Telia Company, Xfera Moviles (Yoigo)