Chaudhary Group buys Moldcell from Telia for US$ 31.5 million

CG Telecom MoldCell

Moldcell is a mobile network operator in the Republic of Moldova, part of the international Telia Company, headquartered in Stockholm, Sweden.

Fintur Holdings B.V. (Fintur), wholly-owned by Telia Company, has agreed to sell its 100 percent holding in Moldcell to CG Cell Technologies DAC, for a transaction price of US$ 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 . Moldcell is a well-run company with very dedicated and talented employees whom I w ant to thank for their outstanding contributions over the years. We wish them all the best in the company’s next phase,” says Christian Luiga , acting President and CEO of Telia Company.

Fintur Holdings B.V. (Fintur) divests its 100 percent holding in Moldcell S.A. (Moldcell) to CG Cell Technologies DAC, wholly – owned by CG Corp Global .

Prior to signing the agreement, Telia Company completed strict compliance and purchaser due diligence, also including use of external expertise.

Moldcell which represent s approximately 0.7 percent of Telia Company’s service revenues and 0.6 percent of the Company’s total EBITDA 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 Company expects to complete the divestment during the first quarter of 2020 .

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