Telia Overseas sells holding in Bharti Mobile
Telia Overseas AB, which is 9% owned by Ratos, has sold its 26% stake in Bharti Mobile Ltd in India. The purchaser is the Indian mobile operator Bharti Televentures.
The sale is expected to give Telia Overseas a capital gain of approximately SEK 200m. Total invested capital including loans amounted to SEK 528m. The sale is in line with the company's strategy to successively realise earlier investments. The transaction will be closed during the fall of 2002.
Ratos owns about 9% in Telia Overseas and has invested SEK 328m in the company since 1996. Telia Overseas acquires, develops and sells telecom licences, mainly for mobile telephony and communications networks in developing countries. In addition to India, Telia Overseas has operations in Sri Lanka, Hong Kong, Uganda and Namibia.