TeliaSonera, the same company that we thought will be either bought by France Telecom or merge with Telenor, announced that it has acquired controlling interests in two mobile operators, Spice Nepal Private Limited in Nepal and Applifone Co Limited in Cambodia.
Under the agreement, TeliaSonera will actually acquire 51% of the shares and votes in TeliaSonera Asia Holding B.V. from Kazakhstan-based diversified investment and advisory firm, Visor Group, that will remain owner of the other 49%. TeliaSonera Asia Holding B.V. owns 80% of the shares and votes in Nepal’s Spice Nepal and 100% of the shares and votes in Cambodia’s Applifone.
TeliaSonera expects to complete the transaction, which will cost approximately SEK 3.2 billion ($484 million), on October 1, 2008, and to consolidate the mobile operations in Nepal and Cambodia as of the same date.
Spice Nepal is the second largest mobile operator in Nepal, while Applifone is a start-up carrier in Cambodia.