Telia could sell off some of its 25% stake in Russia’s MegaFon as it streamlines its focus to its core markets of the Nordics and Baltics.
The Swedish group is reportedly aiming to divest $500 million worth of shares in MegaFon – roughly 8% of the company – to institutional investors.
In 2015, Telia laid out its strategy of withdrawing from the Eurasia region, and has since exited several of these markets. In April it pulled out of Tajikistan, and the following month revealed plans to divest a percentage of its Turkcell stake.
The group is aiming to sell off its assets in the Eurasia region in order to strengthen its presence in its home market of Sweden and the surrounding countries.