Nordic-based operator group TeliaSonera confirmed it is in talks with AF Telecom and Altimo with regard to the future ownership of Russia’s second-largest mobile operator, MegaFon.

In a statement, the company said that “these discussions have so far not led to any agreement, but if and when an agreement is reached, TeliaSonera will present information in accordance with the relevant stock exchange rules.”

TeliaSonera currently owns around 44 percent of MegaFon, with AF Telecom holding 31 percent and Altimo owning 25 percent.

The announcement follows speculation in the Russian media that a deal was in the works. TeliaSonera has a complex relationship with Altimo, which are also partners in Turkish operator Turkcell.

According to Reuters, there had previously been speculation that Russian billionaire Mikhail Fridman, who controls Altimo, may be looking to sell his MegaFon holding to fellow businessman Alisher Usmanov, who controls AF Telecom.

Last week, TeliaSonera said it had sold its 18.6 percent stake in Cambodian operator Smart Mobile, and entered into a deal to increase its ownership of Nepal’s Ncell. It said that these moves were in line with its strategy “to be a strong majority owner in core holdings such as Ncell, and divest non-core minority interests such as Smart Mobile in Cambodia.”

The company made its initial investment in Nepal in 2008, increasing its indirect ownership to the current 60.4 percent in 2010. While terms of the current deal were not disclosed, it said that when “finally consummated” it will increase its Ncell holding by 12.4 percent for the current market value.

TeliaSonera invested in Cambodia in 2008, and in 2010 Ncell participated in in-market consolidation which saw the Nordic group’s ownership reduced.

Earlier this year, Lars Nyberg, president and CEO of TeliaSonera, said that the company was looking to boost its ownership of affiliates, arguing that: ““we typically have 50 percent, 60 percent ownership, but we have 100 percent of the work.”