Telia divests its interest in Ucell

Tashkent, Uzbekistan (UzDaily.com) -- State Committee of the Republic of Uzbekistan for Assistance to Privatized Enterprises and Development of Competition became an owner of Ucell (FE Coscom LLC).

Telia Company, which held 94% stake in Ucell, stated it sold its interest in Ucell (FE Coscom LLC) to the State Committee of the Republic of Uzbekistan for Assistance to Privatized Enterprises and Development of Competition.

The sum of deal is US$215 million on a debt free basis. The transaction is not subject to any conditions, such as regulatory or competition approvals, and will be completed during the course of the day.

Ucell was established in 1996 under the brand Coscom. Telia Company became the majority owner in 2007 and the company changed its name into Ucell in 2008. I

t has roughly 1,250 employees and 7.1 million subscribers. Ucell’s 2G network covers approximately 97 percent of Uzbekistan and its 3G network covers roughly 60 percent of the country.

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