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Televerket was a Swedish State authority acting as a state-owned corporation (public enterprise), responsible for telecommunications in Sweden from 1853 until 1993. Originally it was named Kongl. Elektriska Telegraf-Werket (literally: Royal Electric Telegraph Agency), which was founded in 1853. Its name changed to Kongl. Telegrafverket in 1871, Kungl. Telegrafverket in 1903, the prefix Kungl. (an abbreviation of "Kunglig", "Kungliga"; English: Royal) was dropped in 1946 and the name was further modernised to Televerket in 1953. Televerket continued on with its telecommunications monopoly until corporatisation in 1993, when it was renamed Telia, now part of Telia Company.