CARROLLTON, Texas-Wireless handset distribution company CellStar Corp. announced it will sell its subsidiary in Sweden, CellStar Intercall AB, to Swedish distribution company AxCom AB. Terms of the deal, expected to be completed in November, were not disclosed.
The move is part of CellStar’s retreat from the European market. The company last year sold its U.K. business and earlier this year sold its business in the Netherlands. The company continues to operate in Latin America, North America and Asia Pacific.
CellStar distributes handsets, related accessories and other wireless products from leading manufacturers to network operators, agents, resellers, dealers and retailers. The company counted revenues of $2.2 billion last year.
