Medicover sells India business for 8.1 billion kronor, shares surge

Healthcare company Medicover is selling its entire India business for 8.1 billion Swedish kronor, sending its shares sharply higher. Chief Executive John Stubbington said the Indian operations had never really been priced into the stock, explaining the market's positive reaction. Stubbington told the newspaper he is smiling. The divestment is a major strategic move, removing a business he believes investors had largely undervalued.