The share values of TeliaSonera AB rose to its highest in a month after it appointed Johan Dennelind as its new CEO. Dennelind's experience in emerging markets would provie fruitful for its jump into the Asian markets to help the flagging sales of Sweden's largest phone company.
As a former executive for Vodacom Group Ltd, he would be officially installed as CEO by September 1 but he starts performing his duties starting July 1. According to a company statement, Per-Arne Blomquist would work as acting CEO until the 1st September and after that date return to the position of Chief Finance Officer.
TeliaSonera earned 60% of its revenue from the Nordic region in 2012, the highest rates of growth come from its Eurasian operations, specifically in Turkey, Russia and former countries from the Soviet bloc.
Shares jumped by 3.1%, the biggest one since May 16 and then by another 3% on top of that in today's trading reaching a high of 44.68 kronor per share. At this price per share, the company's enterprise value was pegged at 193 billion kronor or US$30 billion.
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