Fintur divests stake in Moldcell to CG Cell Technologies DAC

17 Feb 2020

Fintur Holdings, a wholly-owned subsidiary of Sweden’s Telia Company, has agreed to sell its 100% holding in Moldova’s second largest telecom operator by subscribers Moldcell to CG Cell Technologies DAC (100%-owned by CG Corp Global), for a transaction price of USD31.5 million. Prior to signing the agreement, Telia Company completed strict compliance and purchaser due diligence with help from external experts. The transaction is not subject to any conditions to close, and Telia Company expects to complete the divestment during the first quarter of 2020. Christian Luiga, acting President and CEO of Telia Company, said: ‘I’m happy to announce the completion of our journey to exit Eurasia allowing us to fully focus on the Nordic and Baltic markets. Moldcell is a well-run company with very dedicated and talented employees whom I want to thank for their outstanding contributions over the years. We wish them all the best in the company’s next phase.’

Moldova, Fintur International, Moldcell, Telia Company