Veon announces a sale of its subsidiary in Georgia to the former local partner for $45 mln, the telecom holding said on its website on Wednesday.
Veon "today announces that it has completed an agreement for the sale of "Veon Georgia LLC", Veon’s operating subsidiary in Georgia, to Veon’s former local partner," the company said.
"The sale of our Georgian operations is in line with Veon’s long held ambition to simplify the Group’s structure," the telecom company said. The transaction value is $45 mln, Veon noted.
"After a period of ongoing negotiations, we have successfully concluded an agreement for the sale of our operating subsidiary in Georgia to our former local partner. This transaction is another step towards streamlining our group operations," Veon CEO Kaan Terzioglu said in a comment, cited by the company.
