TeliaSonera’s strategic shift appears to be continuing in earnest after a report suggested it was contemplating a sale of its Swedish debt collection business Sergel Kredittjanster.
TeliaSonera’s (STO:TLSN) strategic shift appears to be continuing in earnest after a report suggested it was contemplating a sale of its Swedish debt collection business Sergel Kredittjanster.
A sale of Sergel could net TeliaSonera between €300m (US$331m) and €500m (US$551m) with potential suitors including rival Nordic credit managers Intrum Justitia and Lindorff, according to people familiar with the matter cited by Bloomberg. TeliaSonera declined to comment on the report.
The Swedish telco is looking to strengthen its presence in the Baltics and cut its SKr61.4bn (US$7.21bn) debt pile, but is still facing scrutiny over alleged corrupt payments in Eurasia, most recently from short-seller Muddy Waters.
TeliaSonera resolved to rid itself of the troublesome assets in Eurasia in September, and has since renewed efforts to sell its small Spanish carrier Yoigo. TeliaSonera first mandated Deutsche Bank to sell Yoigo in 2012, but failed to find a buyer willing to meet its €1bn (US$1.13bn) asking price. A price closer to €500m (US$567m) is now being discussed.
Elsewhere, TeliaSonera has gone back to the drawing board in the highly competitive Danish market after the European Commission effectively blocked its plan to expand its network sharing agreement with Telenor’s local unit into a full-blown joint venture.
TeliaSonera’s broader strategy is focused on convergence and connectivity in Europe. It is particularly keen on markets where it can combine mobile and fixed-line assets, such as Lithuania where it is merging Omnitel and Teo.