TeliaSonera sells Zed to Wisdom Entertainment

TeliaSonera, the Finnish-Swedish operator, has agreed to sell its wireless data portal Zed to Wisdom Entertainment, a Spanish interactive media group, for $37 million.
TeliaSonera has been looking to spin off Zed, which provides service in Europe, the Philippines and Malaysia, to focus on its pan-Nordic operations. Yahoo bought a 15-percent stake in the company in 2002 with an option to acquire the remaining interests, but opted out of the deal earlier this year.

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