Swedish value added telecomms services supplier Teligent AB to divest Asian subsidiaries

Aug 29, 2008 (NORDIC BUSINESS REPORT via COMTEX) -- TLIGF | Quote | Chart | News | PowerRating -- Swedish value added telecomms services supplier Teligent AB (OMX Stockholm: TGNT) announced on Friday (29 August) that it has decided to divest its operations in Asia.

The proposed divestments include Teligent's subsidiaries in Singapore, Malaysia and the Philippines.

During the first half of the year Teligent's Asian operations achieved a combined profit of SEK0.1m on revenues of SEK3.8m.

"This creates good possibilities for Teligent's previous investment in Asia to develop under new management", said Jan Rynning, chairman of the board at Teligent.

The proposed divestments are part of Teligent's financial reconstruction.

Teligent, headquartered in Stockholm, Sweden, develops and provides application platforms and associated applications to network operators worldwide. The company has some 400 employees and reported sales of SEK434m in 2007.

One British pound (GBP) is worth approximately 11.74 Swedish kronor (SEK).

Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com

More News:   Market Updates | Stock Alerts | All Trading News | Stock Index