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TeliaSonera Appoints Law Firm to Review Uzbekistan Investment

Date : 10/03/2012 @ 6:36PM
Source : Dow Jones News
Stock : Teliasonera Ab (TLSN)
Quote : 44.6  0.0 (0.00%) @ 9:15AM
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TeliaSonera Appoints Law Firm to Review Uzbekistan Investment

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    By Dominic Chopping 
 

STOCKHOLM--Swedish telecommunications operator TeliaSonera AB (TLSN.SK) said Wednesday it has assigned law firm Mannheimer Swartling to review its investment in Uzbekistan in 2007, and at the same time it has appointed Sweden's former ambassador to Russia, Tomas Bertelman, as a strategic advisor on matters related to Central Asian operations.

 
   MAIN FACTS: 

-Mannheimer Swartling have been asked by TeliaSonera to investigate whether TeliaSonera's investment in a 3G-license, frequencies and number series in Uzbekistan in 2007 involved any form of corruption or money laundering.

-The review will be led by Biorn Riese, Mannheimer Swartling's managing partner.

-Mr Riese will report to TeliaSonera's board of directors and the results of the external review will be made public.

-Ambassador Bertelman will assist the board in its efforts to manage the difficult trade-offs associated with conducting business in the markets in question.

-Up until recently he was Sweden's ambassador to Russia, and has previously also been ambassador in Madrid, Riga and Warsaw as well as Consul General in the then Leningrad (St Petersburg). Mr Bertelman has also been Secretary of the Parliamentary Foreign Affairs Committee.

-Mr Bertelman will advise the board in relation to future business decisions, as well as in more general matters where conflicts of interest might arise due to the company's code of conduct and international framework on one hand and the national legislation and current market conditions on the other hand.

-At 1234 GMT shares traded 0.1% higher at SEK47.36.

-Write to Dominic Chopping at dominic.chopping@dowjones.com

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