TeliaSonera completes first phase of Kcell transaction

TeliaSonera completes first phase of Kcell transaction

TeliaSonera has completed the first phase of its previously announced
transaction to increase ownership in in GSM Kazakhstan LLP, operating under the
brand Kcell, by acquiring a 49 % stake in the company from Kazakhtelecom.

Following regulatory approvals, TeliaSonera acquired the 49% stake from
Kazakhtelecom, at a purchase price of USD 1.519 billion, in line with the
initial announcement. TeliaSonera has further agreed, subject to certain
conditions, to sell 25 percent of the shares minus one share in Kcell in an
Initial Public Offering (IPO). The IPO process has been initiated, and is
expected to be completed during 2012. Depending on the share price development
after the IPO, TeliaSonera may have to make an additional payment to
Kazakhtelecom.

After the transaction, GSM Kazakhstan LLP is owned by Fintur Holdings (51%) and
TeliaSonera (49%). Fintur Holdings B.V. is owned by TeliaSonera (58.55%) and
Turkcell (41.45%). Once both steps of the transaction have been completed,
TeliaSonera’s effective ownership in Kcell will be 61,9%.

Previous announcement regarding this transaction were released on September 21
and December 22, 2011.

TeliaSonera AB discloses the information provided herein pursuant to the Swedish
Securities Markets Act and/or the Swedish Financial Instrument Trading Act. The
information was submitted for publication at 7.10 a.m. CET on February 2, 2012.

For more information, please call the TeliaSonera press office + 46-771 77 58
30, press@teliasonera.com

Forward-Looking Statements
Statements made in the press release relating to future status or circumstances,
including future performance and other trend projections are forward-looking
statements. By their nature, forward-looking statements involve risk and
uncertainty because they relate to events and depend on circumstances that will
occur in the future. There can be no assurance that actual results will not
differ materially from those expressed or implied by these forward-looking
statements due to many factors, many of which are outside the control of
TeliaSonera.

TeliaSonera provides network access and telecommunication services in the Nordic
and Baltic countries, the emerging markets of Eurasia, including Russia and
Turkey, and in Spain. TeliaSonera helps people and companies communicate in an
easy, efficient and environmentally friendly way. Our ambition is to be number
one or two in all our markets, providing the best customer experience, high
quality networks and cost efficient operations. TeliaSonera is also the leading
European wholesale provider with a wholly-owned international carrier network.
In 2010, net sales amounted to SEK 107 billion, EBITDA to SEK 37.7 billion and
earnings per share to SEK 4.73. The TeliaSonera share is listed on NASDAQ OMX
Stockholm and NASDAQ OMX Helsinki. Read more at www.teliasonera.com.