June 14, 2017 / 11:42 AM / 5 months ago

Telia wants to sell part of MegaFon stake - source

STOCKHOLM (Reuters) - Nordic telecom operator Telia Company (TELIA.ST) is looking to sell part of its 25 percent stake in Russian mobile operator MegaFon (MFON.MM), a source familiar with the matter told Reuters on Wednesday.

A flag flutters at the Telia telecommunication company headquarters in Helsinki, Finland, May 5, 2017. REUTERS/Ints Kalnins

Bloomberg earlier reported Telia would sell a stake worth around $500 million in MegaFon, equivalent to about 7.8 percent at current market prices.

Telia has previously said it views its stake as a financial investment.

“The ambition is to sell part of the stake in MegaFon,” the source said.

The sale, to institutional investors, could come as early as this week as Telia focuses on its home region, Bloomberg reported.

A Telia spokesman declined to comment.

Reporting by Olof Swahnberg; Editing by Elaine Hardcastle

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