MONTREAL-Telesystem International Wireless (TIW) and ClearWave said they reached an agreement with Emerging Markets Partnership (WMP) on the sale of the 5.68-percent stake of Romanian operator MobiFon held by ClearWave for US$42.5 million.
ClearWave said it will use the proceeds of the sale to repay intercompany demand notes due to TIW and related interest. TIW plans to reduce its debt with the funds.
