TeliaSonera reports good results

TeliaSonera reported net income up 26% to SKr5.64 billion ($674 million) on sales up 13% to SKr28.10 billion. Telenor's shares rose 1 per cent to NKr43.43.

Like Telenor, whose results we reported yesterday, TeliaSonera has expanded into the former Soviet Union and Asia, and while analysts and shareholders have worried this has left them both exposed in tough trading times, in fact neither has reported any impact on their Eurasian operations from the global economic downturn or from financial turbulence in their home markets, the Financial Times reports.

TeliaSonera said results from its eastern European operations, reported in Swedish kronor, had been affected by the depreciation of local currencies such as the Russian rouble, but there was little other visible impact.

It said January's results from eastern Europe businesses had been weaker than expected but said it was too early to draw any conclusions for the full year.