TeliaSonera launched a new, wholly owned telecom network infrastructure subsidiary, TeliaSonera Skanova Access AB, in Sweden on January 1, 2008. By establishing Skanova Access, TeliaSonera ensures that the market's requirements for transparency and control are met. The company employs about 700 people and net sales for corresponding operations in 2007 are estimated to approximately SEK 7 billion.

Fintur Holdings B.V. (Fintur), of which TeliaSonera's direct and indirect ownership is 74 percent, finalized in January 2008 an acquisition of an additional 14.3 percent interest in Geocell LLC (Geocell) for a total consideration of approximately SEK 210 million (USD 33 million), increasing Fintur's ownership in Geocell to 97.5 percent from 83.2 percent.

On February 12, 2008, TeliaSonera announced that an agreement for the privatization process of the Republic of Azerbaijan's 35.7 percent ownership in Azercell Telekom B.M. (Azercell) has been signed. The deal is pending certain closing procedures. Azertel A.S., the parent company of Azercell and a majority-controlled subsidiary of Fintur Holdings B.V. (Fintur), will acquire the entire stake of the Republic of Azerbaijan, increasing Azertel's ownership in Azercell to 100 percent. At the same time, the current local partner will increase its ownership in Azertel to 49 percent. Fintur's effective ownership in Azercell therefore remains at current 51 percent.

On March 7, 2008, TeliaSonera announced that an arbitration tribunal of the International Chamber of Commerce in Vienna has issued an award finding that Cukurova has violated certain share transfer restrictions in the shareholders' agreement between Cukurova and TeliaSonera relating to Turkcell Holding, a company which owns 51 percent of Turkcell. TeliaSonera currently owns 47 percent of Turkcell Holding. The violation occurred in connection with a partial transfer of Cukurova's ownership in Turkcell Holding to the Russian Alfa Group in 2005. The arbitration tribunal ordered Cukurova to take all measures available to it, including good faith negotiations with Alfa, to repurchase the transferred shares. Earlier, in January 2007, another arbitration tribunal of the International Chamber of Commerce in Geneva issued an award finding that a binding share purchase agreement was concluded between TeliaSonera and Cukurova in 2005, calling for Cukurova to cancel its withdrawal from the binding agreement and to sell all its shares in Turkcell Holding to TeliaSonera. TeliaSonera hopes to execute the transaction with Cukurova but, even if the share purchase agreement is binding and Cukurova acted in violation of the Turkcell Holding shareholders' agreement, Cukurova may not be able, or willing, to proceed with a transfer of the Turkcell Holding shares to TeliaSonera.