The second largest cell phone carrier in Moldova is being sold. Fintur Holdings B.V., which is fully owned by Telia Company, reached an agreement on the sale of its 100% holding in Moldcell to CG Cell Technologies DAC at the transactional price of US$ 31.5 million, IPN reports, quoting a press release of Telia Company.

“I’m glad to announce the completion of the process of leaving the Eurasia region, which will enable us to fully focus on the markets in Northern Europe and the Baltic States. Moldcell is well managed by dedicated and talented employees whom I want to thank for their contribution during all these years. We wish them success in the next company development stage,” stated Christian Luiga, acting president and CEO of Telia Company.

Before signing the contract, Telia Company finished the strict analysis and checked the buyer, including through the agency of foreign consultants.

Moldcell accounts for about 0.7% of the service revenues of Telia Company.

Moldcell is the second largest cell phone carrier in Moldova with about 900,000 customers.

Telia Company expects the sale of the shareholding will be completed in the first quarter of 2020.