October 31, 2017 / 6:21 AM / 20 days ago

Telia sells Megafon stake to Gazprombank

STOCKHOLM, Oct 31 (Reuters) - Nordic telecom operator Telia Company is selling its 19 percent stake in Megafon to Gazprombank for around 8.6 billion Swedish crowns ($1.03 billion), it said on Tuesday.

Telia said it was selling at a price of 514 roubles ($8.86)per share.

“The transaction is in line with Telia Company’s strategy to focus on the Nordics and Baltics,” the firm said in a statement.

$1 = 8.3519 Swedish crowns $1 = 58.0002 roubles Reporting by Helena Soderpalm, editing by Terje Solsvik

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