Mergers and Acquistions News
Categories: Telecoms
September 26th 2008, 17:29PM
Nordic telecommunications firm TeliaSonera has spent approximately $484 million (£263 million) on acquiring a controlling stake in an Asian business.
The company has purchased 51 per cent of TeliaSonera Asia Holding's shares from Visor Group, which enables them to enter the telecoms markets of Nepal and Cambodia.
TealiaSoner Asia Holding has an 80 per cent stake in Spice Nepal and is the sole owner of Cambodian firm Appliphone.
It claimed the move was part of a campaign to grow its presence in the Eurasia market even further.
"One of our top priorities is to grow our business in Eurasia, where we have successfully grown and created value over the past ten years," commented chief executive and president Lars Nyberg.
In other mergers and acquisitions news, Ascribe has purchased the healthcare division of WCI Consulting for £650,000.
A further £300,000 is in the agreement as a deferred consideration, which will be paid in a year's time depending on how the business performs, M&A Deals reports.
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