Telia's Nivert Faces Pressure to Scrap Fiber Business

Telia AB Chief Executive Officer Marianne Nivert is facing shareholder demands to exit the fiber-optic business after Sweden's largest phone company had to write off a third of the $1 billion she invested in the unit.

Telia today said it lost 572 million kronor ($54 million) in the fourth quarter, the first loss since a June 2000 initial public offering, on the 3.03 billion-krona write-down. Its stock slipped 7.9 percent, the biggest drop in more than three months.