May 12, 2017 / 4:00 AM / 3 years ago

RPT-BRIEF-Telenor in online classified M&A deals with Schibsted, Singapore Press

(Repeats from late Thursday)

May 11 (Reuters) - Telenor Asa

* Entered into an agreement with schibsted asa regarding its joint ventures within online classifieds

* Exits latin american joint venture (snt) and acquires schibsted’s stake in joint ventures in malaysia, vietnam, and myanmar

* Net proceeds to telenor from transaction with schibsted will be usd 406 million

* Has entered into an agreement with singapore press holdings to acquire their share in online classifieds sites in malaysia, vietnam and myanmar for usd 110 million

* Will own 100 % of leading online classifieds services mudah (malaysia), chotot (vietnam), onekyat (myanmar) and imsold (malaysia and vietnam)

* Telenor, schibsted, naspers and singapore press holdings will remain partners in online classifieds assets in thailand and indonesia

* Telenor says deals are part of our efforts to simplify telenor group’s business portfolio and to focus on business development in geographical areas of key importance

* Transactions are expected to close by end of june 2017

* In telenor group’s financial reporting for q2 2017, a gain of nok 3.5 billion will be booked related to disposals and an impairment of nok 0.3 billion will be booked relating to asian assets

* Transactions will give a net positive cash contribution of around nok 2.5 billion in q2 of 2017 Source text: Further company coverage: (Reporting By Terje Solsvik)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below