TeliaSonera has announced plans to exit its operations in Eurasia and increase its focus on its regions Europe and Sweden. The decision follows long-running allegations of corruption in how it was awarded licences in some countries in Eurasia. The company's own investigation in 2012-2013 found several shortcomings in corporate governance and led to a complete overhaul of its management, and prosecutors in several countries are still investigating the company, notably its licence in Uzbekistan.
TeliaSonera said it had made significant progress in corporate governance and sustainability in Eurasia in the past two years, and it still sees an opportunity to do both profitable and sustainable business there. However, it noted that it's "important to enter markets in a correct way". Exiting the region will take time, and each country operation will be assessed individually, the company said. The Eurasia region includes its activities in Nepal, Kazakhstan, Uzbekistan, Azerbaijan, Georgia, Moldova and Tajikistan. These countries accounted for just over a fifth of TeliaSonera's sales in the first half of 2015.
