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SilkNet snaps up Geocell for USD153m

26 Jan 2018

Fintur Holdings, jointly owned by Telia Company and Turkcell, has agreed to sell 100% of its holding in Georgian mobile operator Geocell to SilkNet, the country’s leading fixed line and broadband operator, for a transaction price of USD153 million. At completion of the deal, Fintur’s Turkish subsidiary Gurtel Telekomunikasyon Yatirim ve Dis Ticaret (Gurtel) will divest its 100% holding in Geocell to SilkNet. Gurtel is owned by Fintur (99.9%) and four minority shareholders. The transaction, which is subject to regulatory approvals, is expected to be completed in the second quarter of 2018.

‘I’m happy to announce another step in our effort, to over time, leave Eurasia and focus on the Nordic and Baltic regions within the framework of our New Generation Telco strategy,’ commented Johan Dennelind, President and CEO of Telia Company. Geocell had just over two million subscribers at the end of 30 September 2017, notes TeleGeography’s GlobalComms Database, giving it a wireless market share of 34.2%.

Georgia, Geocell, SilkNet, Telia Company, Turkcell

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