Telia Company completes divestment in Kaztranscom

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Telia Company has completed its divestment in Kaztranscom, a company which operates a fibre network and provides ICT services for the corporate segment in Kazakhstan. The transaction is in line with Telia Company’s strategy to focus on the Nordics and Baltics.

Telia Company has held a minority stake in Kaztranscom through the holding company Rodnik since 2012. On February 1 2018, Telia Company announced that it had agreed to transfer its interest in Kaztrascom to Amun Services. All relevant authorities in Kazakhstan have approved the transaction.

In addition, Telia Company has entered into a settlement with Amun Services in respect of claims Amun Services and its affiliates have made or could direct against Telia Company and its affiliates.

Amun Services is a company incorporated in the Dubai Multi Commodities Centre freezone in the UAE. It is part of the Amun group, an international emerging markets focussed private investment and advisory group.

Telia Company has conducted due diligence and background checks of the parties in this transaction. The divestment has a limited financial effect on Telia Company.

Telia Company has also entered into a settlement with its former partner in Rodnik, Almaty Engineering Company, with respect to certain claims related to the historic management and investments in Rodnik.