TeliaSonera Increases Stake in Geocell

Stockholm-based TeliaSonera said on January 29 it had increased its shareholding of Georgia?s second largest mobile operator, Geocell, to 97%.

TeliaSonera – the biggest Nordic telecom operator ? acquired the extra shares when Fintur Holdings B.V., which is 74% owned by TeliaSonera, paid USD 33 million for 14.3% of Geocell.

TeliaSonera became the owner of majority stakes into the Geocell in 2003, according to the Georgian mobile operator.

Magti is the largest mobile operator in Georgia. Russia?s VimpelCom, which entered the Georgian market in March 2007, is in third place. It operates under the Beeline brand name.

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