TeliaSonera has acquired controlling interests in two mobile operators, Spice Nepal Private Limited in Nepal and Applifone Co Limited in Cambodia . TeliaSonera will acquire 51 percent of the shares and votes in TeliaSonera Asia Holding B.V. from Visor Group that will remain owner of the other 49 percent. TeliaSonera Asia Holding B.V. owns 80 percent of the shares and votes in Spice Nepal , the second largest mobile operator in Nepal , and 100 percent of the shares and votes in Applifone, a start-up mobile operator in Cambodia . The total cash consideration to be paid by TeliaSonera is approximately SEK 3.2 billion (US$484 million), corresponding to 51 percent of the total equity value of TeliaSonera Asia Holding B.V. Spice Nepal launched its operation in September 2005 and is the second largest mobile operator in Nepal, with around 1.6 million subscriptions and an estimated market share of approximately 41 percent as of August 2008. Spice Nepal's net sales in 2007 and for the first six months of 2008 were US$41.1 million and US$34.1 million, respectively, and EBITDA, excluding non-recurring items, was US$19.0 million and USD 18.2 million, respectively. Mobile penetration in Nepal , with a population of 28.4 million, is approximately 13 percent. Applifone launched its operation in October 2007 and is the fourth largest mobile operator in Cambodia , with some 97,500 subscriptions and an estimated market share of approximately 3 percent as of August 2008. Mobile penetration in Cambodia , with a population of 14.6 million, is approximately 21 percent. TeliaSonera expects to complete the transaction on October 1, 2008, and to consolidate the mobile operations in Nepal and Cambodia as of the same date.
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