Owner critical to Telia’s stores – Västerbotten Courier

Owner critical to Telia's stores – Västerbotten Courier

Many of TeliaSonera’s major shareholder is critical to the company’s business in Uzbekistan, after the last week been visiting subsidiary Ucell’s much-criticized operation in the country.

– TeliaSonera was transparent and open. But it was like walking into a dark room and turn on the light, says Sasha Beslik, head of responsible investment at Nordea, the Swedish newspaper Svenska Dagbladet.

The owners were also critical to even do business in the country, where TeliaSonera has invested one billion U.S. dollars, despite the fact that Uzbek law forbids the newspaper company to bring profits.

– The country is through corrupt and totalitarian. In principle, the Swedish government and other shareholders take all the risk, but can not pick out any gains, says an anonymous investor to SvD.