TASHKENT, December 5. /TASS/. Swedish-Finnish company TeliaSonera, which owns 94% of Coscom, a telecom operator providing services under Ucell brand, has sold its stake in that company to the authorities of Uzbekistan for $215 mln, the company said in a press release.
The stake was sold to the State Committee of the Republic of Uzbekistan for Assistance to Privatized Enterprises and Development of Competition.
According to the press release the transaction was completed in line with the decision of TeliaSonera “to leave Eurasia and focus on the Nordic and Baltic regions.”
Ucell was established in 1996 under the brand Coscom. Telia became the majority owner in 2007 and the company changed its name into Ucell in 2008. It has roughly 1,250 employees and 7.1 million subscribers. Currently, there are five mobile operators in Uzbekistan and three of them (Uzmobile, UMS and Ucell) are state-owned companies.
Article Sourced via TASS