Davis Polk is advising Telia Company AB on the sale of its 60% ownership interest in the Tajik cell phone operator Tcell to the Aga Khan Fund for Economic Development S.A. The transaction, which is expected to close by the end of the year, is subject to regulatory approvals in Tajikistan. The financial terms of the transaction were not disclosed.

Telia Company provides network access and telecommunication services in the Nordic and Baltic countries and the emergent markets of Eurasia, including Russia and Turkey. Telia Company is also a leading wholesale provider, owning and operating one of the world’s most extensive fiber backbones. In 2015, the Stockholm, Sweden-based group had net sales from continuing operations of SEK 86.6 billion. Telia Company is listed on Nasdaq Stockholm and Nasdaq Helsinki.

The Davis Polk corporate team includes partners Leo Borchardt and Jeffrey R. O’Brien and associates Jason P. Thompson and Quentin Parmentier. Partner Jonathan Cooklin, counsel David Wilson and associate Dominic Foulkes are providing tax advice. All members of the Davis Polk team are based in the London office.
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