Swedish prosecutors cease Azercell-related investigation

5 May 2016

Sweden’s Telia Company (formerly TeliaSonera) issued a statement to the stock market on 3 May 2016 noting that Swedish prosecutors have closed an investigation regarding suspected bribery in Azerbaijan, where Telia operates via mobile operator Azercell. Following this decision, the sole ongoing Swedish investigation relating to Telia Company is the investigation regarding Uzbekistan, the statement added, while also noting: ‘Telia Company is cooperating fully with the prosecutors and police in investigations regarding suspected bribery and has full confidence in the prosecutors and their work.’

Telia Company is in the process of exiting all countries in its ‘Eurasia’ mobile division, including Azercell, with investment partner Turkcell moving to take full control of joint holding company Fintur; Telia Company’s Azercell stake has been rumoured to be valued at around USD430 million.

Azerbaijan, Sweden, Azercell, Telia Company