KATHMANDU: Fintur Holdings BV (Fintur), wholly-owned by Telia Company, has agreed to sell its 100 per cent holding in Moldcell to CG Cell Technologies DAC, for $31.5 million.

“I’m happy to announce the completion of our journey to exit Eurasia allowing us to fully focus on the Nordic and Baltic markets,” a media release has quoted Christian Luiga, acting president and CEO of Telia Company, as saying. CG Cell Technologies is wholly-owned by CG Corp Global.

Prior to signing the pact, Telia Company completed strict compliance and purchaser due diligence, also including use of external expertise, the release states. Moldcell which represents approximately 0.7 per cent of Telia Company’s service revenues and 0.6 per cent of the company’s total earnings before interest, taxes, depreciation, and amortisation (EBIT- DA) is Moldova’s second largest telecom operator and has approximately 900,000 customers. The transaction is not subject to any conditions to close, and Telia expects to complete the divestment during first quarter of 2020, the release states.