Mon, 21 Dec, 2015 08:27:22 PM FTimes- Xinhua Report Dec. 21  Photo Lehtikuva Nordic telecommunication operator TeliaSonera is pulling out of the Nepalese market, the company said on Monday.
The decision followed an intention published in September 2015 that the company was planning to reduce its presence in its seven market areas in Euro-Asia and concentrate on the Nordic and Baltic markets.
TeliaSonera said it was selling its direct 60.4 percent holding of Nepalese operator Ncell to Asiata. The price was given as 1,03 million U.S. dollars.
At the same time, TeliaSonera also disengaged from the connection to the 20 percent local ownership required by local laws.
TeliaSonera has suffered damage to its corporate image in the Euro-Asian markets due to alleged corruption. Two years ago, four TeliaSonera executives were dismissed on account of the suspicions.
Since 2013, TeliaSonera has focused intensely on business in Nepal, Kazakhstan, Uzbekistan, Azerbaijan, Georgia, Moldova and Tajikistan.
Headquartered in Stockholm, TeliaSonera is listed both in Helsinki and Stockholm.
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