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Spain: TeliaSonera looks to offload troubled assets to Vodafone

 |  April 23, 2014

Sweden-based TeliaSonera is looking to offload its problematic assets in Spain to fellow wireless giant Vodafone, according to reports.

TeliaSonera’s Yoigo could go to Vodafone, the Swedish firm said Wednesday, as Vodafone reportedly expressed interest in an acquisition. Yoigo is Spain’s smallest wireless operator. According to one industry expert, the business could be worth $1.4 billion.

TeliaSonera’s new Chief Executive Johan Dennelind expressed the need for the company to divest its Spanish unit unless it can grab more market share in the country. Currently, the company owns 7 percent of the Spanish wireless market.

Vodafone agreed last month to acquire cable operating leader Ono and has reportedly expressed interest in Yoigo depending on how strict regulators will be on such a tie-up.

Full Content: Reuters

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