Telia takes directory route to profit

NEWS Profits for the year were $1.2bn compared to $610m the previous year. Telia is to concentrate on its cellular services in the Nordic and Baltic countries and its pan-European broadband network. It plans to sell off its cable television division and dispose of other overseas assets for further fundraising. Telia was the first national operator not to be awarded a domestic 3G licence. Norway's Telenor has reported a 11 per cent rise in turnover to £2.9m, while seeing the number of Telenor Mobile's subscribers rise from 2.7m to 5.9m. However, profit dropped 10 per cent to $405,000. Telenor's real gains will be made in the future when it gets the cash from exercising its option to sell its interests in Esat Digifone in Ireland and Viag Interkom in Germany to BT. The two sales will increase BT's debt by £2.3bn.