Telia becomes part-owner of first pan-Russian mobile operator
- 2001-08-14 22:00 UTC
Telia has become part-owner of the first pan-Russian mobile operator in Russia. The new pan-Russian company aims to become one of Russia's largest mobile operator with access to a market of more than approx. 120 million people. The Russian market is being consolidated as a result of mergers between small operators.
The new company is being formed by merging Telia's associated company, North-West GSM, the leading GSM operator in the St. Petersburg area and third largest in Russia, Sonic Duo, the third GSM operator in the Moscow area and the five regional GSM 900/1800 operators belonging to Telia's partly owned holding company, Telekominvest, which are active in northern Caucasus, the Volga region, the Ural mountains and the eastern regions of Russia.
- Russian telecommunication market is, without doubt, one of the most attractive markets in the world. The merger strengthens Telia's presence in the growing Russian market. We are sure that joint experience, investing capabilities and high professionalism will facilitate the new company's rise to the leading position of the Russian telecommunications
industry, says Annika Christiansson, Manager of Baltic and Russian operations at Telia Mobile AB (Sweden).
Telia directly and indirectly owns 16,2 percent of the newly formed pan-Russian mobile operator. The indirect ownership comes via Telia's 31 percent stake in First National Holding, which owns 85 percent of Telekominvest. Telecominvest, will be one of the principal owners of the newly formed pan-Russian company with an interest of 31.3 percent. The other owners are Sonera (26%), Central Telegraph Mobile (25.1%) and a number of other minority interests.
Annika Christiansson, Manager Baltic and Russian operations at Telia Mobile AB, phone +46 8 601 88 50, +46 70 623 60 50
Charlotte Züger, Press Officer Telia Mobile AB, +46 320 03 83
This information was brought to you by Waymaker http://www.waymaker.net