Telia Company Mergers and Acquisitions Presentation Deck
TRANSACTION HIGHLIGHTS - KCELL
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Rationale
Target
company
Valuation
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effects
Time table
The final big step in our effort to over time leave Eurasia
Telia Company's direct and indirect ownership in Kcell
Telia Company has sold its 24 percent direct ownership in Kcell to Kazakhtelecom JSC.
Simultaneously, Fintur Holding, jointly owned by Telia Company and Turkcell, has sold its
51 percent ownership in Kcell to Kazakhtelecom JSC
The price for the 75 percent is USD 446 million (our part USD 326 million) which implies a
full enterprise value of USD 771 million, equal to EV/EBITDA of 5.0x, slightly above peers
The transaction is expected to result in a gain of c. SEK 1.1 billion for Telia Company
before reclassification of accumulated foreign exchange losses of SEK 0.9 billion to net
income from discontinued operations (which will have no material effect on group equity)
Net debt to EBITDA to decrease by 0.1x
The Kazakh competition authority has already approved the transaction and closing of the
transaction is expected during December 2018View entire presentation