TEE: TeliaSonera AB: The Board of Directors launches review of transactions
in Eurasia, led by Norton Rose
UK Regulatory Announcement
In connection with TeliaSonera’s
(Nasdaq:TLSN)(LSE:TEE)(HEX:TLS1V)(STO:TLSN)(OSE:TEL) Annual General Meeting on
April 3, the company’s new Board of Directors announced that it intended to
conduct a thorough review of the transactions and agreements made in the past
few years and the company’s partners in Eurasia. The Board has today decided
to assign the responsibility for conducting this review to the international
law firm Norton Rose LLP.
The aim of the review is to give TeliaSonera’s new Board of Directors a clear
picture of the company’s transactions in Eurasia and to perform a risk
assessment from a business ethical perspective. TeliaSonera’s present
processes and routines will also be analysed in order to assess whether they
are suitable and sufficient for managing the identified risks.
“Norton Rose is an independent law firm with solid experience of similar
assignments. The review will be performed in stages, country by country, to
allow the scope of the assignment to be adjusted along the way. The Board aims
to be as transparent as possible regarding the reviews and will continuously
take a stand on what is communicated externally and when,” says Marie Ehrling,
Chairman of the Board of TeliaSonera.
It is estimated that the review of all transactions in Eurasia will be
completed by the end of 2013.
Norton Rose is a leading international law firm with more than 2,900 lawyers.
The firm offers a full business law service to many of the world's pre-eminent
financial institutions and corporations from offices in Europe, Asia,
Australia, Canada, Africa, the Middle East, Latin America and Central Asia.
Norton Rose has broad experience from work related to business ethics,
including anti-corruption activities, and from corporate transactions in many
different countries. Norton Rose has not served as TeliaSonera’s advisor
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 2012, net sales amounted to SEK 105 billion, EBITDA to SEK 36.1
billion and earnings per share to SEK 4.59. The TeliaSonera share is listed on
NASDAQ OMX Stockholm and NASDAQ OMX Helsinki. Read more at
TeliaSonera press office
+46 771 77 58 30
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