Telia Company is thinking about reducing the share in “the Megaphone”

Moscow. On 13 June. INTERFAX.RU – the Swedish-Finnish Telia holding Company, which owns 25,71% in Russian operator MegaFon is considering selling part of the shares in the company, Bloomberg reported, citing sources.

The company is considering the sale of shares in the amount of $500 million, which corresponds to approximately 7.8% of the shares of “MegaFon”. The deal could be finalized this week, the stake will be sold to institutional investors, depending on demand, said the source Agency.

The source adds that the final decision is still pending and the company can maintain its share in the operator. In Telia and in “the Megaphone” have refused comments.

Telia in 2015, said that gradually refuse from the participation in the markets of Central Asia, noting that the company wants to focus on the markets of the Nordic and Baltic countries. The company previously sold its assets in Tajikistan. In may, the company announced that it plans to reduce the share in the operator Turkcell. The company is now 38% either directly or through Turkcell Holding.

MegaFon is the second largest Russian cellular operator, 99% of its business accounted for Russia (the company is also present in the markets of Tajikistan, Abkhazia and South Ossetia). At the end of September 2016, the company was working 77,3 million subscribers, including 75.5 million in Russia.