Azerbaijan, Baku, 30 March /corr. Trend S.Babayeva / In 2008, the dominant telephone company and mobile network operator in Europe, TeliaSonera, which is one of the founders of Azerbaijan's leading mobile operator, Azercell Telecom, will invest in application of new services in the Country, the Company's annual report for 2007 says.
"Strong economic growth means huge investment demands. TeliaSonera plans to increase coverage, quality of services and apply new services in Azerbaijan, Georgia and Moldova," the Company stated.
The new services include introducing 3G technologies in Azerbaijan, Kazakhstan and Moldova. The Company has already acquired license for this service in Uzbekistan and Tajikistan,
In Eurasia, the net amount of sales by TeliaSonera increased by 21.5%, with special intensity in Azerbaijan and Kazakhstan.
On 12 February, TeliaSonera signed an agreement on completion of the privatization of Azerbaijan's State share in Azercell Telecom (35.7%). Currently closing procedures are being carried out. Thus, Azertel's share makes up 49% and Fintur - 51%.
TeliaSonera is the result of a 2002 merger between the Swedish and Finnish telecommunications companies, Telia and Sonera.Of the shares , 37 % are owned by the Swedish government , 13.2 % by the Finnish government , and the rest by institutions, companies, and private investors worldwide. The Company is the shareholder of Azerbaijan's leading mobile operator, Azercell Telecom through Fintur Holdings BV because 58.55% of Fintur's share belongs to TeliaSonera.
Azercell Teleсom commenced its activities on 15 December 1996 and serves more than 3mln subscribers. Currently the Company is the biggest operator on GSM standards in Azerbaijan.