Davis Polk advised Telia Company AB on the sale of its interest in FE Coscom LLC (“Ucell”) to the State Committee of the Republic of Uzbekistan for Assistance to Privatized Enterprises and Development of Competition, a governmental authority of the Republic of Uzbekistan, for $215 million on a debt-free basis.
Headquartered in Stockholm, Sweden, Telia Company AB has approximately 20,000 employees serving millions of customers every day in one of the world’s most connected regions. With a strong connectivity base, Telia Company AB is a hub in the digital ecosystem, empowering people, companies and societies to stay in touch with everything that matters.
Ucell is an Uzbek telecommunications operator that has approximately 1,250 employees and 7.1 million subscribers. Ucell’s 2G network covers approximately 97% of Uzbekistan and its 3G network covers approximately 60% of Uzbekistan.
The Davis Polk team included partner Jeffrey R. O’Brien and associates Ida Araya-Brumskine and Grecia Barboza. Partner Jonathan Cooklin and associate Dominic Foulkes provided tax advice. All members of the Davis Polk team are based in the London office.